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Rodney Hood was named chairman of the NCUA Board Monday as he was sworn into office. He replaces J. Mark McWatters, who will remain on the board; McWatters' term is set to expire in August. New NCUA Board Member Todd Harper was also sworn into office Monday. NAFCU President and CEO Dan Berger spoke with Hood and Harper yesterday to congratulate them.

In response to news that President Donald Trump had named Hood chairman, Berger issued this statement:

"NAFCU congratulates Rodney Hood on being named NCUA Board chairman, and we look forward to working with him as he leads the agency," said Berger. "With his previous experience serving on the NCUA Board and industry knowledge, Mr. Hood will be an asset to the agency as it tackles some of credit unions' most pressing problems.

"We also appreciate Mark McWatters' efforts as chairman to bring about regulatory relief for the industry and transparency at the NCUA. We are confident the new NCUA Board will be a strong regulator for credit unions."

In a press release, Hood said he "look[s] forward to leading the agency and focusing on the safety and soundness of America's credit unions as they operate in today's ever-changing marketplace." Some of the issues Hood plans to address while chair include:

• enhancing and modernizing the federal credit union charter;
• addressing capital reform issues;
• addressing cyber security issues;
• creating opportunities for credit unions to serve vulnerable communities; and
• reducing regulatory burdens.

Berger also released this statement after Harper was sworn in:

"Todd Harper has a strong understanding of credit union issues," said Berger. "We look forward to working with him, new board Chair Hood and board member McWatters as they tackle important industry issues."

Harper, in a release, said he plans to focus on capital, liquidity and cybersecurity, as well as consumer protection duties and access to affordable credit for unbanked and underserved consumers.

Hood previously served on the board from 2005-2010 and fills a six-year term that will expire in 2023. His seat replaces Board Member Rick Metsger, whose term expired in August 2017 but had indicated he would serve until his replacement had been confirmed.

Harper previously served as the director of public and congressional affairs and chief policy advisor to the chairman at the NCUA. He fills a six-year term that expires in 2021; this board seat was previously held by former NCUA Chairman Debbie Matz, who left the board in April 2016.