February 08, 2019

NCUA, FHFA nomination hearings expected next week

The Senate Banking Committee announced its plans to hold nomination hearings for key posts at the NCUA and the Federal Housing Finance Agency (FHFA) next week.

Scheduled for Feb. 14, the hearing will consider nominees Todd Harper and Rodney Hood to be members of the NCUA Board, and Dr. Mark Calabria to be director of the FHFA. If advanced out of committee, the nominees will face a confirmation vote by the full Senate.

The hearing is set for 10:00 a.m. Eastern Thursday, and can be livestreamed via the Senate Banking Committee's website.  

President Donald Trump recently nominated Harper to the NCUA Board. Harper previously served as the director of public and congressional affairs and chief policy advisor to the chairman at the NCUA. If confirmed, he will fill a six-year term that expires in 2021; Harper would fill a board seat previously held by former NCUA Chairman Debbie Matz, who left the board in April 2016.

The president renominated Hood earlier this year after initially nominating him in June 2018. Hood previously served on the board from 2005-2010 and, if confirmed, will fill a six-year term that will expire in 2023. This seat will replace Board Member Rick Metsger, whose term expired in August 2017 but has indicated he will serve until his replacement has been nominated.

The NCUA Board is comprised of three, Senate-confirmed members; two seats are currently filled. NCUA Board Chairman J. Mark McWatters' term expires August 2019.

In January of this year, Calabria, chief economist for Vice President Mike Pence, was nominated to lead the FHFA. If confirmed, Calabria, whom NAFCU staff has met with several times, would serve a five-year term.

At the beginning of 2019, NAFCU President and CEO Dan Berger shared the association's 2019 advocacy priorities with leaders of the NCUA, FHFA and Treasury Department, and also outlined specific priorities for the agencies that NAFCU and credit unions would like to see addressed.