ARLINGTON, Va.–Should the two nominees for the NCUA board who will have a nomination hearing later this week in the Senate win approval and join the agency, they will find plenty of items on the agenda awaiting them.
As CUToday.info reported earlier, on Valentine’s Day the Senate will hold confirmation hearings for Rodney Hood and Todd Harper.
Both nominees have strong ties to NCUA, with Hood, the Republican nominee, having previously served on the NCUA board from 2005-2010. Hood’s term would run through 2023. Harper, the Democratic nominee, served as director of Public and Congressional Affairs and as chief policy advisor to the chairman from 2011 to 2017. Like Hood, due to holdovers on the board and the lack of earlier congressional action, Harper’s term would run through April 2021. NCUA board seat terms run for six years.
NAFCU’s Carrie Hunt said once in place, the two new board members and Chairman J. Mark McWatters should be able to tackle some issues that have been “on hold to a degree” for some time, including rules around risk-based capital, secondary capital, and the FCU bylaws proposal (“which may seem boring but which impact credit unions day to day,” said Hunt), as well as the agency’s ruling on field of membership that has been the subject of litigation from banking trade groups.
“We are excited to have a full NCUA board again,” said Hunt.