Back to the future?
With only one board member currently in-term, Trump nominated former NCUA vice-chair Rodney Hood to fill the expired seat of board member (and former chairman) Rick Metsger, whose term expired in August 2017 but had agreed to continue to serve as a holdover until his replacement was named.
Should he be confirmed by the Senate, Hood will serve until 2023. He was previously nominated to the board by President George W. Bush, and served from 2005 to 2009. Hood served also as associate administrator of the Rural Housing Service from 2003 to 2005.
Hood has worked with JP Morgan Chance since October 2010, promoting housing and economic inclusion in underserved neighborhoods, served on NCUA’s board from October 2005 to August 2010. He was nominated then by President George W. Bush.
This nomination marks the first attempt to address the board’s personnel situation since July 2016, when President Obama
Then-Vice Chairman Metsger was elevated to Chairman upon Matz’s retirement from the board, though
The industry is still waiting on the president to nominate Matz’s successor. The three-member board has operated with a vacancy since April 2016.
The movement reacted quickly and positively to news of Hood's nomination. Read on for a sample of their responses.
This story was updated at 9:17 a.m. on June 19, 2018.