On February 7, the U.S. Department of the Treasury announced that Secretary of the Treasury Scott Bessent appointed Rodney E. Hood as Acting Comptroller of the Currency, effective February 10. Hood succeeded Michael J. Hsu, who had served as Acting Comptroller since May 10, 2021. Hood was the first Black person to lead a federal banking regulatory agency and previously served on the NCUA Board. His prior roles included serving as a voting member of the Financial Stability Oversight Council and Vice Chairman of the FFIEC. Hood has experience in retail finance, commercial banking and community development in the private sector.