Rodney E. Hood
Rodney E. Hood | |
|---|---|
| Occupation(s) | Government official, banking regulator |
| Known for | Acting Comptroller of the Currency, Chairman of the National Credit Union Administration |
Rodney E. Hood is a U.S. government official who has held positions as Acting Comptroller of the Currency and as a director of the Federal Deposit Insurance Corporation. He has been appointed twice to the National Credit Union Administration (NCUA) board, serving as its eleventh chairman from 2019 through 2021. Hood’s background includes expertise in retail and commercial banking, affordable housing initiatives, and community development efforts. Notably, he is the first African-American to lead a federal banking regulatory body.
Government
Between 2003 and 2005, Hood served as associate administrator for the Rural Housing Service within the U.S. Department of Agriculture.
National Credit Union Administration
Hood was initially appointed to the NCUA board by President George W. Bush, holding the position of vice chairman from November 2005 until August 2009. During this period, he also represented NCUA on the board of NeighborWorks America.
He returned to the NCUA board following a reappointment by President Donald Trump in January 2019, with Senate confirmation in March and official swearing-in in April 2019. This appointment marked him as the first African-American to lead a federal banking regulatory agency. Hood remained chairman until January 2021, when President Joe Biden named Todd Harper as his successor. While chairman, he participated as a voting member of the Financial Stability Oversight Council, acted as NCUA’s delegate on the Financial and Banking Information Infrastructure Committee, and fulfilled duties as vice chairman of the Federal Financial Institutions Examination Council. He continued serving on the board until January 2024.
Throughout his leadership, Hood championed the integration of fintech and artificial intelligence within financial services and encouraged the establishment of new credit unions. Emphasizing financial inclusion—describing it as "the civil rights issue of our time"—he supported regulatory reforms aimed at improving access for underserved communities.
In 2020, under Hood’s direction, the NCUA amended its nonmember deposit regulation to permit credit unions to retain public unit and nonmember shares up to either 50% of net paid-in capital or $3 million, whichever was higher, thereby enhancing liquidity substantially. The agency also broadened its low-income designation criteria to include military members, facilitating their eligibility for low-income credit union (LICU) status along with benefits such as exemptions from member business lending limits and access to grants and capital resources—although this adjustment drew criticism from some sectors within the industry.
In 2021, Hood advocated for simplifying NCUA’s derivative regulations to ease interest rate risk management for credit unions. The following year, he supported reforms that allowed secondary capital to be treated as subordinated debt and expanded eligibility for subordinated debt issuance to all LICUs, complex credit unions, and newly chartered institutions pending regulatory approval.
Office of the Comptroller of the Currency
On February 7, 2025, Hood assumed the role of Acting Comptroller of the Currency after being named First Deputy Comptroller by Scott Bessent, Secretary of the Treasury, succeeding Michael J. Hsu. In this capacity, Hood also serves as an ex officio member of the Federal Deposit Insurance Corporation’s board.
Shortly after his appointment, Hood withdrew the Office of the Comptroller of the Currency (OCC) from participation in the Network of Central Banks and Supervisors for Greening the Financial System, citing that addressing climate change falls outside the agency’s statutory mandate.
During his tenure at OCC, Hood oversaw issuance of Interpretive Letter 1183 which confirmed that nationally-chartered banks and financial institutions may legally engage in a wide array of cryptocurrency-related activities. The letter clarified rules regarding cryptocurrency custody and involvement in independent node verification networks, eliminating previous requirements for regulatory pre-approval. Additionally, Hood endorsed regulatory sandboxes designed to promote innovation among banks and fintech enterprises.
Private sector
Prior to his tenure in public office, Hood held positions at Bank of America as an officer responsible for the Community Reinvestment Act, and at North Carolina Mutual Life Insurance Company where he was marketing director as well as group sales manager. Subsequently, he took on the role of national director for the Emerging Markets Group at Wells Fargo Home Mortgage and contributed as a board member of the Wells Fargo Housing Foundation.
In addition, Hood was employed by JPMorgan Chase as a corporate responsibility manager, where he oversaw collaborations with nonprofit organizations, regulatory bodies, and community stakeholders to promote inclusion for marginalized populations and minority groups.
In 2024, Hood expanded his board experience by joining Zest AI and received appointments to the boards of fintech companies Posh AI, ModernFi, along with the cybersecurity firm DefenseStorm.
From 2024 through 2025, he participated on the international advisory board of Strategic Resource Management.
Non-profit work
Hood’s non-profit efforts include missionary work in Africa.
He has maintained a strong connection with the University of North Carolina system, serving on its Board of Governors, the Board of Visitors at UNC at Chapel Hill, and the Board of Trustees for the UNC School of Arts.
Furthermore, Hood held a position on the board of the North Carolina Museum of Art and acted as chairman of the board for NeighborWorks America from 2021 until 2024.
Awards
Among his accolades, Hood was named one of the “40 Young Leaders Under 40” by the Triangle Business Journal and earned Wells Fargo Housing Foundation’s "Dream Award" in recognition of his dedication to affordable housing initiatives.
He was inducted into the African American Credit Union Hall of Fame in 2023 and honored with the Distinguished Alumnus Award from UNC Chapel Hill in 2021.
Education
Hood completed his undergraduate studies at the University of North Carolina at Chapel Hill, earning a degree encompassing business, communications, and political science.