Skip to main content

NCUA Chairman Harper Welcomes Otsuka Nomination

WASHINGTON–President Biden has nominated Tanya Otsuka to serve on the NCUA board. Otsuka would fill the seat currently held by board member Rodney Hood, whose term expired in August.

Otsuka is currently senior counsel for the majority staff of the U.S. Senate Banking, Housing, and Urban Affairs Committee under Chairman Sherrod Brown (D-OH), where she has handled the committee’s work on banking and credit union issues since March 2020.  

Screen Shot 2023-09-21 at 4.41.46 PM

Tanya Otsuka

In 2019, she also served on the Committee staff through the Government Affairs Institute at Georgetown University’s Capitol Hill Fellowship Program, on detail from the FDIC, according to the White House.  

“Tanya Otsuka is a committed public servant and a well-qualified nominee to serve on the NCUA board,” said NCUA Chairman Todd Harper. “Tanya’s past work has strengthened the U.S. financial system, protected consumers, and advanced the ability of credit unions to innovate and compete. Tanya would also bring a different point of view to the work of the agency as the first Asian-American NCUA board member. If confirmed, I look forward to working with Tanya to protect the deposits of America’s nearly 138 million credit union members and to expand access to safe, fair, and affordable financial services to under-resourced communities. I hope the Senate acts quickly on her nomination.”

What's Ahead

According to Harper, over the the coming weeks Otsuka will be meeting with senior NCUA staff and begin preparations for her confirmation hearing as part of a process to be overseen by NCUA Chief of Staff Catherine Galicia and other agency offices.

"I am also very grateful for Board Member Rodney E. Hood’s continued service on the NCUA board," said Harper. "His institutional knowledge and commitment to financial innovation and inclusion are hallmarks of his leadership over the last four years. Together, we have advanced important priorities for credit union members across the country, including adoption of today’s final rule on financial innovation."

For Hood it marks the completion of his second term on the board.

Other Nominees

In addition to Otsuka, the president has also nominated:

  • Melissa G. Dalton, to be Under Secretary of the Air Force, Department of Defense
  • Andrew Plitt, to be Assistant Administrator for the Middle East, U.S. Agency for International Development
  • Spencer Bachus III, to be Member (Republican) of the Board of Directors of the Export Import Bank of the United States

CUNA Issues Statement

“We congratulate Ms. Otsuka on her nomination to the NCUA Board,’ said CUNA President/CEO Jim Nussle. “CUNA, leagues, and credit unions have plenty of work to accomplish in collaboration with NCUA, and we look forward to working with her if she is confirmed.” 

Virginia League Statement

"The Virginia Credit Union League looks forward to working with Ms. Otsuka should she be confirmed," said League President/CEO Carrie Hunt. "We are very excited to see how she will bring her talents to the credit union industry."

Comments

Popular posts from this blog

Mortgage Rates See Biggest Decline in a Year; Applications Rise

WASHINGTON–Mortgage rates saw the biggest one-week drop in over a year last week, causing the first increase in mortgage demand in a month, according to new data. Total mortgage application volume rose 2.5% last week, compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 7.61% from 7.86%, with points falling to 0.69 from 0.73 (including the origination fee) for loans with a 20% down payment. The Rate Driver "Last week's decrease in rates was driven by the U.S. Treasury's issuance update, the Fed striking a dovish tone in the November FOMC statemen

Growing Delinquencies, Especially in Auto Loans, Can be Seen in New CUNA Report

MADISON, Wis.–Ongoing increases in delinquencies, especially in automobile loans, can be seen in the new CUNA Economic Update . According to CUNA Chief Economist Mike Schenk, the report shows: Mortgage delinquencies. With data obtained by Equifax, CUNA economists said they have found “slight upward movements” in mortgage delinquency rates.   Credit card delinquencies. Bigger increases in delinquency rates relative to the cyclical low – as seen during the COVID-19 pandemic – is concerning, said Schenk.   Auto loan delinquencies: Data shows a “dramatic” increase in delinquency rates among institutions such as auto financing companies.  CUNA Forecast   CUNA’s economists are forecasting delinquency rates will peak at 1% by the end of 2024.

Speakers & Sessions For NCOFCU 24 San Antonio TX.

National Council of Firefighter Credit Unions Inc (NCOFCU)  Speakers and Schedule! It is the National Council of Firefighter Credit Unions (NCOFCU) "GO TO Conference" for credit unions serving first responders! Who should attend? CEO's, VP's Directors and Staff See What's Planned Register Here! Bring your spouse, bring a guest to enjoy San Antonio, TX River Walk 4 Days Golf 16 + Sessions Alamo Reception Closing Dinner Right on the San Antonio River Walk Several Networking events Open Forums Idea Exchange Events Panel Discussions of CU Leaders National & Industry Speakers Trends in First-Responder Credit Unions Director & Volunteer Sessions Exhibitors ShowcaseAnd  So Much More! HOTEL REGISTER HERE