Todd Harper’s nomination to a full term on the National Credit Union Administration (NCUA) Board, one of only two nominations approved by the Senate Banking Committee Thursday that won better than a tie vote from the panel, now heads to the full Senate for further action.
The committee on Thursday took votes on 12 nominations made by President Joe Biden (D). Harper, currently NCUA Board chairman, was approved on a bipartisan vote of 17-7.
Harper joined the NCUA Board in 2019 to fill an unexpired term and was designated chairman in January 2021 by the current president, 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, but the act also notes 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 CFPB.
In other voting Thursday, the Banking Committee approved President Biden’s nomination of Reta Jo Lewis to be president of the Export-Import Bank on a vote of 13-11. Four nominees, including Dave Uejio (former acting director of the Consumer Financial Protection Bureau, or CFPB) to be an assistant secretary at the Department of Housing and Urban Development (HUD), drew tie votes, and the remaining nominees were approved by voice vote. All await Senate action.