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The Senate Banking Committee on Tuesday voted to send to the full Senate the nomination of Tanya Otsuka to serve as a member of the NCUA board.
The panel voted by voice vote to advance Otsuka’s nomination and those of several others to the Senate floor.
Timeline
It is unclear when the Senate will consider the nomination. However, the Senate often pairs Democratic nominees with Republican ones. Otsuka is a Democratic nominee and the Banking Committee on Tuesday also voted to advance the nomination of former Republican House Financial Services Chairman Rep. Spencer Bachus, R-Ala., to continue serving on the Export-Import Bank. Pairing those nominations could ease the way for Otsuka’s confirmation.
Potential Impact
Otsuka currently serves on the staff of the Senate Banking Committee. If confirmed, she would replace board member Rodney Hood and give Democrats control of the agency board. Hood is a Republican, as is board member Kyle Hauptman, while Chairman Todd Harper is a Democrat.
The timing of Otsuka’s confirmation vote could be crucial for Harper’s priorities for the NCUA. The board is scheduled to vote on its 2024 budget in December and Harper has advocated an increased emphasis on consumer protection at the agency.
NCUA
