Rodney E. Hood Announced as Acting Comptroller of the Currency
Industry Update
February 7, 2025
Source: Office of the Comptroller of the Currency
The U.S. Department of the Treasury announced the appointment of Rodney E. Hood as Acting Comptroller of the Currency, effective February 10, 2025. U.S. Secretary of the Treasury Scott Bessent designated Mr. Hood pursuant to his authority in 12 U.S.C. 4.
“I am grateful for the trust of Secretary Bessent and will work diligently to promote a regulatory environment that is effective without being excessive,” said Mr. Hood. “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.”
Mr. Hood succeeds Acting Comptroller Michael J. Hsu, who has served in the role since May 10, 2021.
“I thank Mr. Hsu for his many years of dedicated public service and his commitment to strengthening the resilience of the U.S. banking system,” said Mr. Hood.
Mr. Hood was previously confirmed by the U.S. Senate in 2005 and again in 2019 to serve on the National Credit Union Administration Board (NCUA). In 2019, President Donald J. 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, as the NeighborWorks America Board Chairman, and as Vice Chairman of the Federal Financial Institutions Examination Council.
Before public service, Mr. Hood held senior roles in retail finance, commercial banking, affordable housing, and community development in the private sector.
A North Carolina native, Mr. Hood holds a bachelor’s degree from the University of North Carolina at Chapel Hill.
For full report, please click the source link above.