WASHINGTON–President Biden has nominated Tanya Otsuka to serve on the NCUA board. Otsuka would fill the seat currently held by board member Rodney Hood, whose term expired in August.
Otsuka is currently senior counsel for the majority staff of the U.S. Senate Banking, Housing, and Urban Affairs Committee under Chairman Sherrod Brown (D-OH), where she has handled the committee’s work on banking and credit union issues since March 2020.
In 2019, she also served on the Committee staff through the Government Affairs Institute at Georgetown University’s Capitol Hill Fellowship Program, on detail from the FDIC, according to the White House.
“Tanya Otsuka is a committed public servant and a well-qualified nominee to serve on the NCUA board,” said NCUA Chairman Todd Harper. “Tanya’s past work has strengthened the U.S. financial system, protected consumers, and advanced the ability of credit unions to innovate and compete. Tanya would also bring a different point of view to the work of the agency as the first Asian-American NCUA board member. If confirmed, I look forward to working with Tanya to protect the deposits of America’s nearly 138 million credit union members and to expand access to safe, fair, and affordable financial services to under-resourced communities. I hope the Senate acts quickly on her nomination.”
What's Ahead
According to Harper, over the the coming weeks Otsuka will be meeting with senior NCUA staff and begin preparations for her confirmation hearing as part of a process to be overseen by NCUA Chief of Staff Catherine Galicia and other agency offices.
"I am also very grateful for Board Member Rodney E. Hood’s continued service on the NCUA board," said Harper. "His institutional knowledge and commitment to financial innovation and inclusion are hallmarks of his leadership over the last four years. Together, we have advanced important priorities for credit union members across the country, including adoption of today’s final rule on financial innovation."
For Hood it marks the completion of his second term on the board.
Other Nominees
In addition to Otsuka, the president has also nominated:
- Melissa G. Dalton, to be Under Secretary of the Air Force, Department of Defense
- Andrew Plitt, to be Assistant Administrator for the Middle East, U.S. Agency for International Development
- Spencer Bachus III, to be Member (Republican) of the Board of Directors of the Export Import Bank of the United States
CUNA Issues Statement
“We congratulate Ms. Otsuka on her nomination to the NCUA Board,’ said CUNA President/CEO Jim Nussle. “CUNA, leagues, and credit unions have plenty of work to accomplish in collaboration with NCUA, and we look forward to working with her if she is confirmed.”
NAFCU Issues Statement
"NAFCU works closely with the NCUA to advocate for a healthy regulatory environment in which credit unions can thrive and effectively serve their 138 million members," said NAFCU President and CEO Dan Berger. "We appreciate President Biden recognizing the importance of this role and we look forward to working with Ms. Otsuka to strengthen the credit union industry and ensure credit unions have an environment to thrive, should she be confirmed. We also thank Board Member Hood for his many years of service to the NCUA, and his efforts to modernize regulations, promote financial inclusion, and tackle emerging trends."
Virginia League Statement
"The Virginia Credit Union League looks forward to working with Ms. Otsuka should she be confirmed," said League President/CEO Carrie Hunt. "We are very excited to see how she will bring her talents to the credit union industry."