Senate Banking Announces NCUA Board Confirmation Hearings

WASHINGTON-The Senate Banking Committee last week announced long-awaited hearings to fill the open slots on the NCUA Board. Rodney Hood, currently serving at the U.S. Department of Agriculture, was nominated in May to fill the seat vacated by former NCUA Chairman Dennis Dollar around 18 months ago. Empire Corporate Federal Credit Union General Counsel Gigi Hyland was more recently announced to fill the seat Debbie Matz left Sept. 30. There was speculation among some in the credit union community that Hood, a Republican, would actually be placed in the slot vacated by Matz because it offers nearly a full, six-year term. Dollar's seat has less than four years left to it. However, now the expectation is that Hood will take the seat through 2009 and Hyland, a Democrat, will assume the open seat through 2011. The Senate Banking Committee hearing is slated for Tuesday, Oct. 25 at 10 am. Hyland commented, "I look forward to participating in the confirmation hearing next Tuesday with fellow NCUA nominee Rodney E. Hood." Hood had not returned a call for comment as of press time. In the meantime, NCUA Chairman JoAnn Johnson was the only seated board member to preside over the NCUA's fifth annual Budget Briefing and the October board meeting. Hood and Hyland's nominations are being considered along with Council of Economic Advisors nominees Matthew Slaughter and Katherine Baicker and Department of Housing and Urban Development Assistant Secretary nominee Orlando J. Cabrera.