Dive Brief:
- Ally Financial has appointed former regulator Rodney Hood as a senior policy adviser to CEO Michael Rhodes, the company said Tuesday.
- Hood served as acting comptroller at the Office of the Comptroller of the Currency last year, prior to Jonathan Gould’s July 2025 confirmation to lead the agency. Before that, Hood was chair of the National Credit Union Administration. Prior to his regulatory experience, Hood held leadership positions at JPMorgan Chase, Wells Fargo and Bank of America predecessor NationsBank.
- At Detroit-based Ally, Hood will leverage his years of banking and regulation experience “to provide invaluable counsel on political affairs and D.C. engagement, further strengthening Ally's voice in critical policy discussions,” the company said in its release.
Dive Insight:
Hood will advise $196 billion-asset Ally “on key political affairs, helping us identify crucial stakeholders, and advocating effectively for policies that support our mission of financial well-being for all,” Rhodes said in the bank’s release Tuesday.
Hood’s “profound understanding of the financial services landscape, coupled with his extensive experience navigating the complexities of Washington D.C., will be instrumental in helping us to grow and innovate for the future,” Rhodes added.
Hood was named acting comptroller last February by Treasury Secretary Scott Bessent.
During his brief time leading the federal banking agency, Hood was focused on financial inclusion, tailoring bank regulations, raising the Bank Secrecy Act threshold, greater clarity on bank-fintech partnerships, and addressing flaws in the assessment of merger applications.
Hood also rejected calls last June from state banking regulators to rescind the OCC’s preemption rule, asserting that preemption is a “cornerstone of the dual banking system.”
Hood served as the NCUA’s vice chair from 2005 to 2009, according to his LinkedIn profile. He became the first Black American to lead a federal bank regulatory agency when President Donald Trump appointed him chair of the NCUA board in 2019. Hood held that role until January 2021, and continued to serve on the NCUA board until January 2024.
