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NCUA Board Member Tanya Otsuka issued a statement Wednesday condemning her abrupt removal from the NCUA, calling it a politically motivated decision that threatens the agency’s independence and stability.
“President Trump informed me by email that my ‘position on the National Credit Union Administration is terminated, effective immediately,’” Otsuka said. “This is yet another attempt to undermine the rule of law and blatantly ignore Congress and our democratic values.”
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Otsuka, who served on the bipartisan board of the federal credit union regulator, emphasized her commitment to nonpartisan oversight during her tenure.
“At the NCUA, I have set politics aside and worked with my fellow board members to focus on what is best for credit unions and their members,” she said.
The NCUA was established by Congress as an independent agency to regulate and insure the nation's credit unions. Otsuka stressed that board independence is vital to preserving public trust in the financial system.
“I intend to keep fighting for the rule of law and to protect the millions of Americans who put their hard-earned money in credit unions insured by the NCUA,” she said.
NCUA Board Member Todd Harper also announced Wednesday morning that he was fired by the White House and issued a strongly worded statement following his removal from the NCUA Board, calling the decision “wrong” and a threat to the agency’s independence.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
