Does Two-Minus-One-Equal-Four AtNCUA?
WASHINGTON - (05/03/05) -- If Agricultural Department ExecutiveRodney Hood gets seated on the NCUA Board in the coming months itwill mean that two of the soon-to-be vacancies on the three-memberpanel are down to one. But the seat Hood is expected to benominated for will only have four of the six-years remaining on it,as it is mandated to expire on April 11, 2009. A second seat on theBoard, the one currently occupied by Deborah Matz, expires inAugust, leaving observers to speculate that President Bush willseat Hood to the Board as a recess appointee later this month, thenflip him to the full six-year term of Matz's seat after August.Then the Republican Hood could be paired with a Democrat to servethe remaining four years on that term. Hood, a former communitydevelopment banker, outdoorsman and opera buff who currently runsthe Agricultural Department's program on rural housing, was beingseen by credit union people who know him as knowledgeable andeclectic. "He's a fascinating mix and he's going to be a good NCUABoard member," former NCUA Chairman Dennis Dollar, told The CreditUnion Journal, referring to Hood as an 'opera-loving, duck-hunting,North Carolina African-American conservative Republican, who'sworked in community development banking.' Hood did not return phonecalls by The Credit Union Journal.