Secretary of the Treasury Scott Bessent has announced plans to appoint Rodney E. Hood as a Deputy Comptroller and designate him as the First Deputy Comptroller of the Office of the Comptroller of the Currency (OCC). In this capacity, Hood will also act as Acting Comptroller of the Currency.
Bessent stated, “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.”
Hood expressed his commitment by saying, “I remain steadfastly committed to serving the American people and the banking system by creating a regulatory structure that fulfills our obligations, fosters innovation, and promotes financial inclusion, including those Americans who have been debanked and underserved.”
The OCC operates within the Department of the Treasury. The position of Comptroller is appointed by the President with Senate approval. According to 12 U.S.C. § 4, up to four Deputy Comptrollers can be appointed by the Treasury Secretary, with one designated as First Deputy Comptroller. In cases where there is no sitting Comptroller, this individual assumes its duties.
Rodney Hood’s previous roles include confirmations by the U.S. Senate in 2005 and again in 2019 for positions on the National Credit Union Administration Board. He was named Chairman of this board in 2019 by President Donald J. Trump. Before his public service career, Hood held senior positions at JPMorgan Chase, GE Capital, Bank of America, Wells Fargo, and North Carolina Mutual Life Insurance Company.
Hailing from North Carolina, Hood earned his bachelor’s degree from the University of North Carolina at Chapel Hill.
