The president’s nomination of Todd Harper, currently chairman of the National Credit Union Administration (NCUA) Board, to a full term on that board went to the Senate Tuesday, according to a White House announcement.
The nomination, embraced Monday by Senate Banking Committee Chairman Sherrod Brown (D-Ohio), awaits committee action.
Harper joined the board in 2019 to fill an unexpired term and was designated chairman this January by President Joe Biden (D), succeeding Rodney Hood (R). If confirmed as expected, Harper would have a board term that continues through April 10, 2027, outlasting that of Hood, which ends in August 2023; and that of Kyle Hauptman (currently vice chairman), which ends in August 2025.
The Federal Credit Union Act generally provides that NCUA Board members may not be appointed to succeed themselves. There are a couple exceptions, however, including that someone appointed to fill an unexpired term may be reappointed for a full six-year term.
As NCUA Board chairman, Harper also currently chairs the umbrella Federal Financial Institutions Examination Council (FFIEC), which prescribes standards for federal examinations of financial institutions by the NCUA, the Federal Reserve, the Federal Deposit Insurance Corp. (FDIC), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB).