Mortgage and banking leaders react to the appointment
The US Treasury Department has tapped Rodney Hood (pictured), a longtime financial regulator with experience overseeing credit unions and banking policy, as acting comptroller of the currency.
His appointment takes effect today (February 10), following the departure of the previous comptroller. In addition to the interim role, Treasury Secretary Scott Bessent has also appointed Hood as a deputy comptroller and designated him first deputy comptroller, a move that positions him as the primary official at the Office of the Comptroller of the Currency (OCC).
The OCC, a bureau of the Treasury Department, is responsible for regulating national banks and federal savings associations, ensuring the stability of the banking system.
Hood was first confirmed by the US Senate in 2005 to serve on the National Credit Union Administration (NCUA) board and was reconfirmed in 2019. That same year, President Donald Trump appointed him as chairman of the NCUA, where he oversaw regulations for credit unions nationwide.
His private-sector experience includes leadership positions in retail finance, commercial banking, affordable housing, and community development at major institutions such as JPMorgan Chase, GE Capital, Bank of America, Wells Fargo, and North Carolina Mutual Life Insurance Company.
Industry reactions and support
Mortgage and banking industry leaders welcomed Hood’s appointment, praising his regulatory expertise and leadership.
Bob Broeksmit, CMB, president and CEO of the Mortgage Bankers Association (MBA), noted that Hood’s background in financial services regulation would be an asset to the OCC.
“Rodney Hood’s extensive experience and knowledge in financial services and regulation, including as chairman of the National Credit Union Administration during the first Trump administration, will serve him well as acting comptroller and as a board member of the Federal Deposit Insurance Corporation,” Broeksmit said.
Broeksmit added that the MBA looks forward to collaborating with Hood to drive innovation in banking and advocating for policies that encourage greater bank participation in the mortgage market.
"Recalibrating risk-weights for mortgage servicing rights and warehouse lending would both increase bank activity in the space and lower costs for consumers," he added.
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Similarly, Consumer Bankers Association (CBA) President and CEO Lindsey Johnson applauded Hood’s appointment, citing his "extensive experience and leadership in financial services."
“As former chairman of the National Credit Union Administration, Hood's extensive experience and leadership in financial services will be invaluable in overseeing the safety and soundness of the nation's banking system while ensuring that America’s leading retail banks can continue to meet the evolving needs of consumers and communities,” Johnson said.
Rebeca Romero Rainey, president and CEO of the Independent Community Bankers of America (ICBA), also welcomed Hood’s appointment and emphasized the need to address regulatory challenges facing smaller financial institutions.
“In his role leading the Office of the Comptroller of the Currency, acting comptroller Hood will serve a critical role in ensuring a safe and sound national banking system that serves local communities and the nation’s economy,” said Rainey. “ICBA continues to encourage policymakers in Washington to address excessive regulatory burdens on community banks and ensure a level regulatory playing field between banks and nonbank entities to support a secure environment for consumers and the financial system.”
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