Rodney Hood, former NCUA Board chairman, has been named acting Comptroller of the Currency, effective today. The Office of the Comptroller of the Currency (OCC) is an independent bureau of the Treasury Department, and oversees all national banks and federal savings associations.

“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,” Hood said in a statement. “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.”

While at the NCUA, Hood pursued regulatory relief, innovation, and financial inclusion initiatives. 

“America’s Credit Unions congratulates Rodney Hood on his appointment as Acting Director of the OCC. We worked closely with Hood during his tenure at the NCUA and shared his vision for a regulatory environment that reduces burdens and promotes growth for the credit union system. To the extent we engage with the OCC, we look forward to continuing to work with Hood in policy work when we need to ensure a fair environment for our members,” said Jim Nussle, America’s Credit Unions president/CEO.

America’s Credit Unions will continue to engage all federal financial regulators to ensure the credit union voice is represented in any policymaking. Tomorrow’s Advocacy Update Webinar (free to members, closed to press) will discuss these recent developments and their impact on credit unions.

UPDATED 2/11: Trump announced he will nominate Jonathan Gould to serve as Comptroller of the Currency.