Former NCUA head appointed as acting comptroller at the OCC
New Acting Comptroller of the Currency Brings Extensive Experience to Role
Rodney Hood, a seasoned financial regulatory expert, has been appointed as the acting Comptroller of the Currency at the Office of the Comptroller of the Currency (OCC). Hood's extensive background in federal banking supervision and financial regulation will be instrumental in overseeing the safety and soundness of the nation's banking system.
Background and Regulatory Experience
Hood's regulatory journey began when he was appointed to the National Credit Union Administration Board (NCUA) in 2005, a position he held until 2009. In 2019, President Donald Trump appointed him Chairman of the NCUA, making him the first African American to lead a federal banking regulatory agency.
Before becoming Acting Comptroller, Hood served as a voting member of the Financial Stability Oversight Council, chair of the NeighborWorks America board, and vice chair of the Federal Financial Institutions Examination Council. He also held significant roles at the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC).
Impact on His Role as Acting Comptroller
Given his long-standing leadership in multiple federal financial regulatory bodies, Hood brought a well-rounded understanding of both bank and credit union regulation to the OCC. This experience likely reinforced a supervisory approach balancing safety and soundness with financial inclusion.
During his five-month tenure, the OCC under Hood took several regulatory actions, notably stopping the use of reputational risk as a factor in bank examinations, rescinding Biden-era guidance on cryptocurrency, ending climate risk guidance for large banks, and restructuring the OCC's financial inclusion unit. These efforts indicate a regulatory shift toward reducing certain risk and compliance burdens on banks while recalibrating the OCC's approach to emerging risks like climate.
Contextual Note
Hood's acting tenure was transitional; he was succeeded by Jonathan Gould, confirmed in July 2025 as the permanent OCC Comptroller. Gould’s appointment signals continuity in priorities around safe and sound banking supervision but with renewed emphasis on regulation in areas like crypto and de-banking issues.
Senator Tim Scott, R-SC, expressed his support for Hood, stating that he looks forward to Hood ensuring the agency stays focused on safeguarding the safety and soundness of the banking system. Penny Lee, CEO of the Financial Technology Association, praised Hood, saying he brings a strong appreciation of the positive impact of financial innovation and bank-fintech partnerships.
References:
- Office of the Comptroller of the Currency News Release
- American Banker
- The Wall Street Journal
- Bloomberg
Hood's extensive experience, spanning various federal financial regulatory bodies, could influence the intersection of finance, business, and politics, as his tenure at the Office of the Comptroller of the Currency (OCC) involves decisions that may impact general-news topics such as banking regulations, cryptocurrency, financial inclusion, and de-banking issues.
The OCC's regulatory actions overseen by Hood, such as ending climate risk guidance and restructuring the financial inclusion unit, suggest the potential for changes in the way the agency addresses emerging financial risks, including climate change, and could possibly have broader implications on both the business world and the broader economic landscape.
