These firings dismantled NCUA leadership under the cover of night. Only in the light of day will we find out the extent of damage from this irresponsible and reckless move. Our league will continue to shine the light and protect our credit unions at all cost."

Michael E. Fryzel, former NCUA Chairman:

“Todd Harper is a dedicated public servant who has spent years working for the federal government and the people of our country. His knowledge of credit unions is unmatched. He worked with Congressman Kanjorski on legislation vital to credit unions; he knows and understands every aspect of the Credit Union Act and the rules and regulations that govern the industry and above all, he has advocated for safety and soundness to protect credit unions and their members.

"Todd served with distinction as a key staff member for former NCUA Chairperson Debbie Matz. He was the first NCUA staff member to serve as a member of the board having been appointed to that position by President Trump in 2019. In 2021, President Biden designated him as chairman.

"Whoever advised the President to take action to remove Todd from the board was wrong to do so. Chairman Harper showed his ability to work in a bipartisan way when he was the only Democrat on the board and again when he was in the majority. His hard work and dedication will be missed.”

Samantha Beeler, president/CEO of the League of Southeastern Credit Unions & Affiliates:

“First and foremost, credit unions remain safe and sound, and it is imperative we continue to assure policymakers and the public that our members are well-regulated and insured — regardless of inflammatory headlines.
 
"At our inception, we were regulated by the Farm Credit Administration. Over the decades as our industry has matured, we now have a provincial regulator that matches the sophistication and importance of our industry. Leagues and trade associations will continue to educate and advocate for a regulatory framework that maintains the safety and soundness of the credit union system and supports the 142 million credit union members nationwide.”

William Mellin, president/CEO of the New York Credit Union Association:

“From what I understand, this development is occurring or has already occurred at similar federal agencies, so I believe it’s a little premature to say the agency is being dismantled.
 
"Actions taken:

• I reached out to our Regional Director and await his reply.
• This evening, we will be reaching out to our members seeking information on NCUA exams that are currently underway.
• We’re planning a meeting with our CEOs to discuss the development and seek their feedback and suggestions on our future course of action.”

“The Minnesota Credit Union Network’s role is to be the champion of MN Credit Unions. We must stay united, vocal and proactive. We need to double down on strategic advocacy — educating lawmakers, mobilizing grassroots efforts and defending our structure at every level. Here in Minnesota, we’re activating our network of credit union professionals, volunteers and members to tell the credit union story with one strong voice. This is a pivotal moment, and while the landscape is shifting, our cooperative principles and collective strength — locally and nationally — are what will protect and advance the credit union movement.”

Juan Fernandez, president/CEO of Luminate:

"We’ll continue communicating to the administration and Congress the credit union difference and the importance of an independent regulator that understands the uniqueness of credit unions. Now is the time to unite and showcase why we are critical for communities across our state and country." 

Caroline Willard, president/CEO of the Cornerstone League:

“Cornerstone believes in an independent credit union regulator, and will continue to advocate for that.”

Rick Metsger, former NCUA Chairman:

“I am not all that surprised. This is likely the first salvo against the independent credit union system.”

Dennis Dollar, former NCUA Chairman:

“The removal of both NCUA Board members before their term is up is uncharted territory. But President Trump has proven he is not afraid to plow new ground to get his regulatory agenda in place. He presently did the exact same thing at the Federal Trade Commission. That case will be fought out in court, as this one may well be if Mr. Harper and Ms. Otsuka have the will and the resources behind them to fight a presidential action no matter how unprecedented. Who will win? Time will tell, but it reinforces the prediction I have made recently in my industry presentations that there is certainly going to be less activist regulation from NCUA upcoming over the next few years. At the very least the board makeup will be in flux and it’s hard to enact new regulations with the validity of board actions in question. It has always been my understanding historically that a President cannot remove a Senate confirmed board member before his or her term is up. That is what is designed to make these boards independent. That said, I was also always under the very clear and long recognized understanding that a sitting board member could not be renominated for a second term until the Biden administration reversed established precedent and perhaps the law itself when it renominated Mr. Harper for a second successive term a few years ago. So precedents have fallen now under both the Biden and Trump administrations. Will this make the regulatory agencies like NCUA less independent? Probably. Is that a good thing or a bad thing? I guess the last two presidents have proven that they want the regulatory agencies carrying out the philosophy of the White House that won the last election.

"Elections impact things in Washington. Time will tell what approach wins out long term. Both of these are unprecedented actions that both Biden and Trump each took. The results, if they are sustained in court or if they are not, will unquestionably impact regulatory actions and the regulatory environment going forward.”