By Pete Schroeder
WASHINGTON (Reuters) -The U.S. Treasury Department announced on Friday that Rodney Hood, a former credit union regulator, would take over as the acting head of a leading national bank regulator.
Hood would replace Michael Hsu as head of the Office of the Comptroller of the Currency, which oversees the nation’s largest banks, from February 10, the OCC said in a statement.
Hsu served as the acting comptroller under President Joe Biden. Hood will also serve in an acting capacity, and a full-time nominee could be named at a later date.
The Treasury Department, in a separate statement, said Secretary Scott Bessent also intends to appoint Hood as a deputy comptroller and to designate him the first deputy comptroller of the OCC.
“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,” Bessent said in the statement.
Hood previously served as the chairman of the National Credit Union Administration under Trump and Biden, from 2019 to 2021. He was previously a vice chairman at that regulator, and also had stints at JPMorgan Chase, Wells Fargo and Bank of America, according to his LinkedIn bio.
(Reporting by Pete Schroeder and Ismail Shakil; Editing by Chris Reese)
