In September, President Joe Biden nominated Tanya Otsuka to fill outgoing Board Member Rodney Hood’s seat on the NCUA Board. While Otsuka awaits Senate confirmation, here’s a breakdown of her previous work in the financial services space:
Otsuka has handled the Senate Banking, Housing and Urban Affairs Committee’s work on credit union issues since 2019 and currently serves as Senior Counsel for the majority staff under Chairman Sherrod Brown, D-Ohio. When she first began working with the committee in 2019, she served on staff through the Government Affairs Institute at Georgetown University’s Capitol Hill Fellowship Program, on detail from the Federal Deposit Insurance Corporation (FDIC).
Before her time with the committee, Otsuka was a staff attorney and counsel at the FDIC where she worked on a variety of financial services issues. She began her career at the FDIC as a law clerk in 2010, followed by a role as an Honors Attorney in 2011. She earned her J.D. from Boston College Law School and B.A. from the University of Virginia.
In his statement of support following the announcement, NCUA Chairman Todd Harper noted Otsuka would be the NCUA Board’s first Asian-American member if confirmed. She would also be the only woman on the current board.
In her time on the Senate Banking Committee’s staff, Otsuka handled credit union issues for Chairman Brown through the pandemic, including working for additional flexibility within the Central Liquidity Facility (CLF) and credit union participation in the paycheck protection program (PPP) under the CARES Act.
“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, should she be confirmed,” said NAFCU President and CEO Dan Berger in a statement following the announcement of her nomination. “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.”
The association will continue to work closely with the NCUA and will monitor the Senate’s movement on Otsuka’s
*This article was written in early October. By the time this article is published, the Senate may have already voted to confirm Ms. Otsuka.