ALEXANDRIA, Va.–The NCUA board has a new member and a new Democratic majority.
The Senate voted to confirm Tanya Otsuka to serve on the board Wednesday. Otsuka has been serving as senior counsel for the Senate Banking Committee and was nominated in September by President Biden.
Otsuka, who will be the first Asian American to serve on the NCUA board, will replace Rodney Hood, who has been on the board since 2019. It is Hood’s second term on the board, having previously served on the board from 2005-09.
Along with NCUA Chairman Todd Harper, Otsuka will create a 2-1 Democrat majority, with Vice Chair Kyle Hauptman, the Republican appointee on the board.
Otsuka said during her nomination hearing that NCUA’s mission of ensuring a strong system of cooperative credit is one that “resonates with me both personally and professionally.”
Statements Issued
Following the confirmation, numerous people issued statements of support, including:
NCUA Chairman Todd Harper: “Tanya brings a deep dedication to public service and many years of financial services law and policy experience to this important role. Moreover, she’s hardworking, insightful, and committed to building a financial services system that works fairly for all Americans. I look forward to working alongside Tanya on the NCUA Board to strengthen the U.S. financial system while protecting consumers and expanding access to safe, fair, and affordable financial products and services.”
CUNA CEO Jim Nussle: “We congratulate Ms. Otsuka on her confirmation to the NCUA board, and share her goals of enhancing credit unions’ ability to serve their communities. We look forward to working together with her on the critical issues facing credit unions as we look for new and better ways to serve our nearly 140 million members.”
Greg Mesack, SVP with NAFCU: “(Wednesday's) Senate confirmation for Tanya Otsuka to join the NCUA Board is one of historic nature as she will be the first Asian American to serve in the agency’s 53 year history, and we congratulate her on her new position. NAFCU works closely with the NCUA to advocate on behalf of the credit union industry and the nearly 140 million Americans who rely on them for their financial well-being. We look forward to working with Ms. Otsuka to achieve a healthy regulatory environment and ensure credit unions can thrive in the communities they serve.”
DCUC CEO Anthony Hernandez: “The Hon. Otsuka is an excellent nominee and we look forward to working with her on many issues which will affect each of our member credit unions. From her statements during her confirmation hearing, it is clear that we share her strong commitment to empowering consumers and strengthening the role of credit unions serving their communities. Welcome Board Member Otsuka."
GoWest Credit Union Association CEO Troy Stang: “The credit union movement will be well-served by Tanya Otsuka’s service to the NCUA board of directors. Ms. Otsuka has a distinguished career in public service and is a proven financial services industry thought leader. We look forward to collaborating with her in the pursuit of policies in the best interests of credit unions and the more than 130 million consumers they serve.
Stang on Rodney Hood: “Nominated by two presidents for a position on the NCUA Board of Directors, Rodney Hood went above and beyond in fulfilling the agency’s mission of protecting the cooperative, member-owned charter. During his time as a director and as chair of the board, Mr. Hood guided effective regulatory advancements, looked out for the best interests of members of credit unions, and advanced policies that helped credit unions to best serve those members. We hope that in his next chapter, Mr. Hood will continue to be a part of the credit union movement where he has left such a remarkable footprint.”
League of Southeastern Credit Unions President Samantha Beeler: “On behalf of Alabama, Florida, and Georgia credit unions, we want to congratulate Ms. Tonya Otsuka on her confirmation to the Board of the National Credit Union Administration. Given her experience in the financial services industry, we are confident she will be a strong leader for safety and soundness in the Southeast and beyond. We look forward to working with her to continue supporting and advancing communities across the country.”