Rodney Hood, NCUA chairman, responding on Tuesday to the current events following the death of George Floyd, said he is “shocked and appalled” and shares the heartbreak of many in the black community.

“As the first African-American to lead a federal banking agency, I feel compelled to speak following the tragic death of George Floyd,” Hood stated. “Over the past few months, communities across the country have been overwhelmed with challenge and uncertainty. Besides being on the heels of a global pandemic, we are also experiencing heightened levels of strife following yet another instance of abuse of authority and violence against a black man.”

Hood said that financial inclusion remains one of his top priorities, with the goal of expanding access to the financial mainstream for underserved communities as well as diverse hiring, contracting and board membership. He also called for the creation of the NCUA Culture, Diversity, and Inclusion Council to focus on issues of inclusion within the agency.

“True inclusion within our financial regulators, financial institutions and communities is a goal we all must strive towards,” Hood said. “Diversity is important, but without cultural change that encourages true inclusion, it risks being little more than checking the right boxes.”