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President Biden on Thursday said he will nominate Tanya Otsuka, senior counsel for the Senate Banking Committee, as a member of the NCUA board.
If confirmed, Otsuka would replace Republican Rodney Hood, whose term expired last month.
That would give Democrats the majority control of the NCUA board. As a result, board Chairman Todd Harper said Thursday that he hopes the Senate will move quickly on the nomination.
And, if confirmed, it would mean that all three of the NCUA board members served on Congressional staffs. Republican Kyle Hauptman served on the Republican staff of the Banking Committee. Chairman Todd Harper, a Democrat, served as staff director for the House Capital Markets, Insurance and Government-Sponsored Enterprises Subcommittee.
Otsuka’s Bio
In announcing the nomination, White House officials said that Otsuka has worked on the Banking Committee’s credit union and banking issues since March 2020. In 2019, she also served on the committee’s staff through the Government Affairs Institute at Georgetown University’s Capitol Hill Fellowship Program, on detail from the Federal Deposit Insurance Corporation (FDIC).
Before joining the committee, Otsuka was a staff attorney and counsel at the FDIC. She began her career at the FDIC as a law clerk and an Honors Attorney in 2011.
Otsuka earned her J.D. from Boston College Law School and B.A. with distinction from the University of Virginia. She originally is from Woodbridge, Virginia and is a member of the Virginia Bar. She currently resides in Washington, D.C. with her husband and son.
Chairman Brown Pleased
Banking Committee Chairman Sen. Sherrod Brown, D-Ohio, whose committee will consider Otsuka’s nomination, praised Biden’s choice.
“As a public servant, Ms. Otsuka has dedicated her entire career to fighting for consumers, credit unions and other small financial institutions, and a strong financial system,” Brown said. “On the Banking and Housing Committee, she has earned a reputation as a respected leader, reliable teammate, and a trusted advisor. She will bring a fresh perspective and support for the President’s work to build an economy centered on working families. If confirmed, she would be the first Asian American to serve on the NCUA Board in the agency’s 53-year history.”
Harper Praises Otsuka
Harper also praised Otsuka’s nomination. “Tanya’s past work has strengthened the U.S. financial system, protected consumers, and advanced the ability of credit unions to innovate and compete,” he said. “Tanya would also bring a different point of view to the work of the agency as the first Asian-American NCUA board member.”
NCUA
