The U.S. Department of the Treasury has announced the appointment of Rodney E. Hood as Acting Comptroller of the Currency (OCC). U.S. Secretary of the Treasury Scott Bessent designated Hood pursuant to his authority in 12 U.S.C. 4.
“The strong leadership and career experience of Rodney Hood will strengthen the OCC’s efforts to ensure the safety and soundness of the banking system while also enhancing economic growth,” said Secretary Bessent.
The OCC is a bureau within the Department of the Treasury, and the Comptroller of the Currency is appointed by the President with the advice and consent of the Senate. By statute (12 U.S.C. § 4), the Treasury Secretary is responsible for appointing up to four Deputy Comptrollers of the Currency and designating one as the First Deputy Comptroller. During a vacancy in the position of Comptroller, the First Deputy Comptroller possesses the powers and performs the duties of the Office of Comptroller.
“I am grateful for the trust of Secretary Bessent and will work diligently to promote a regulatory environment that is effective without being excessive,” said Hood. “I remain committed to a balanced framework—one that fosters innovation, expands financial inclusion, and ensures that all Americans have fair access to the financial services they need to thrive. I look forward to leading the dedicated career staff at the OCC, whose expertise and commitment are essential to maintaining a safe and sound banking system.”
Hood was previously confirmed by the U.S. Senate in 2005 and again in 2019 to serve on the National Credit Union Administration Board (NCUA). In 2019, President Donald J. Trump designated him as Chairman of the NCUA Board, making Hood the first African American to lead a federal banking regulatory agency. While at the NCUA, Hood also served as a voting member of the Financial Stability Oversight Council (FSOC), as the NeighborWorks America Board Chairman, and as Vice Chairman of the Federal Financial Institutions Examination Council (FFIEC).
Prior to his public service, Hood served as Marketing Director and Group Sales Manager for the North Carolina Mutual Life Insurance Company in Durham, North Carolina. He also served as National Director of the Emerging Markets Group for Wells Fargo Home Mortgage, and served on the board of the Wells Fargo Housing Foundation. Earlier in his career, he worked for Bank of America as a Community Reinvestment Act Officer and completed the Management Development Program at G.E. Capital.
In addition to his public and private sector service, Hood served as a member of the University of North Carolina at Chapel Hill Board of Visitors and as member of the UNC School of Arts Board of Trustees. He also served as a member of the Board of Trustees for the North Carolina Museum of Art and as a member of the Board of Governors for the University of North Carolina College System.
Hood’s professional awards include being named one of the “40 Young Leaders Under the Age of 40” by the Triangle Business Journal in Raleigh, North Carolina. He is the first recipient of the “Dream Award,” an award given by the Wells Fargo Housing Foundation to honor individuals who have exhibited an outstanding commitment to affordable housing.
A native of Charlotte, North Carolina, Hood holds a bachelor’s degree in business, Communications, and Political Science from the University of North Carolina at Chapel Hill.
“Rodney Hood’s extensive experience and knowledge in financial services and regulation, including as Chairman of the National Credit Union Administration during the first Trump administration, will serve him well as Acting Comptroller and as a board member of the Federal Deposit Insurance Corporation,” said Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit, CMB. “MBA congratulates Rodney Hood on this distinguished appointment, and we look forward to his insights on how to bring more innovation to the banking sector and ensuring it serves the needs of all Americans. We will also continue to advocate for changes that would increase banks’ participation in the mortgage market, while maintaining a safe and sound bank capital framework. In particular, recalibrating risk-weights for mortgage servicing rights and warehouse lending would both increase bank activity in the space and lower costs for consumers.”
Hood succeeds Acting Comptroller Michael J. Hsu, who has served in the role since May 10, 2021.
“I thank Mr. Hsu for his many years of dedicated public service and his commitment to strengthening the resilience of the U.S. banking system,” said Hood.
