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President Joe Biden Thursday nominated Tanya Otsuka to the NCUA Board, who would replace NCUA Board Member Rodney Hood as his term expired in August. The announcement came along with three others nominated to serve in his Administration.

Otsuka is currently the senior counsel for staff of the Senate Banking Committee, led by Chairman Sherrod Brown, D-Ohio. Otsuka previously worked with the FDIC as a staff attorney and counsel.

"NAFCU works closely with the NCUA to advocate for a healthy regulatory environment in which credit unions can thrive and effectively serve their 138 million members. We appreciate President Biden recognizing the importance of this role and we look forward to working with Ms. Otsuka to strengthen the credit union industry and ensure credit unions have an environment to thrive, should she be confirmed,” said NAFCU President and CEO Dan Berger. “We also thank Board Member Hood for his many years of service to the NCUA, and his efforts to modernize regulations, promote financial inclusion, and tackle emerging trends."

NCUA Chairman Todd Harper noted in a statement that Otsuka would be the first Asian-American to serve on the NCUA Board and highlighted her previous experience to support the financial system and consumers.

The NCUA Board is comprised of three, Senate-confirmed members. Hood has indicated he will serve until President Biden’s nominee to replace him is confirmed.