Samantha: NCUA Releases Staff Message on the Current NCUA Board
ALEXANDRIA, Va.
(April 18, 2025) â The National Credit Union Administration released today the
following message to all employees on the current state of the N C U A Board:
âOn April 17, the N C U A received confirmation that President Donald J.
Trump terminated the positions of Todd Harper and Tanya Otsuka.
Please be aware that Todd, Tanya, and their staff are no
longer employed with the agency.
We thank them for their service.
âThe departure of two of our three N C U A Board Members has led to speculation
within the credit union industry and trade press about the N C U A Boardâs
ability to exercise authority with the presence of only a single Board Member.
Please be assured that the N C U A has precedent and standing delegations
of authority in place to continue performing all operational and
statutory requirements under the authority of a single Board Member.
âDuring the Bush Administration (2001â2002), Chairman Dennis Dollar
acted as a sole Board Member.
He held a Board meeting, voted, and took several actions, both
administrative and operational.
Chairman Dollar recently stated in an This is an external link to a website belonging
to another federal agency, private organization, or commercial in CU Today,
âThe records are in place at N C U A from 2002 that clearly establish the precedent
that the Chairman can act as the Board.â
âIt is the N C U Aâs long-held view that a single Board Member constitutes a quorum
when there are no other Board Members.
Chairman Hauptman and N C U Aâs leadership are equipped with the required
authorities to continue implementing the Administrationâs priorities and fulfilling
our mission of protecting the system of cooperative credit and its member-owners
through effective chartering, supervision, regulation, and insurance.
âTogether, we will ensure Americaâs credit unions are safe and sound,
address any unnecessary regulatory barriers to their prosperity, and
provide excellent service to the public.â