Rodney E. Hood has been selected as Acting Comptroller of the Currency. The US Department of Treasury said Hood’s leadership of the Office of the Comptroller of the Currency is effective immediately. Hood replaces Acting Comptroller Michael J. Hsu, who has been Comptroller since May 10, 2021.
Hood issued a statement on his new role, thanking Secretary of the Treasury Scott Bessent for his decision and adding that he would seek to be effective without being excessive.
“I remain committed to a balanced framework—one that fosters innovation, expands financial inclusion, and ensures that all Americans have fair access to the financial services they need to thrive. I look forward to leading the dedicated career staff at the OCC, whose expertise and commitment are essential to maintaining a safe and sound banking system.”
Hood was previously on the National Credit Union Administration Board (NCUA). In 2019, President Donald Trump designated him as Chairman of the NCUA Board, making Hood the first African American to lead a federal banking regulatory agency.
While at the NCUA, Hood also served as a voting member of the Financial Stability Oversight Council (FSOB), as the NeighborWorks America Board Chairman, and as Vice Chairman of the Federal Financial Institutions Examination Council.
Penny Lee, President and CEO of the Financial Technology Association, distributed a comment on Hood’s appointment:
“We applaud the selection of former NCUA Chairman Rodney Hood to serve as Acting Comptroller of the Currency. Acting Comptroller Hood brings a wealth of experience to the role, including a strong appreciation of the positive impact of financial innovation and bank-fintech partnerships. We look forward to working with him on our shared goals of promoting financial competition, choice, and inclusion.”