NCUA Boardroom. Credit/NCUA
The NCUA's Board, consisting of Chairman Kyle Hauptman, announced he will hold a public meeting on May 22, marking the agency’s first open session since the firings of former Board Members Todd Harper and Tanya Otsuka by President Donald Trump earlier this month.
The May 22 agenda includes a briefing on the National Credit Union Share Insurance Fund’s first-quarter performance and a long-anticipated briefing on the NCUA’s Voluntary Separation Programs (VSPs), originally scheduled for April before the previous meeting was canceled amid leadership upheaval.
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In his first comments since the firings of Harper and Otsuka, Hauptman said, “This Board meeting will provide the public information on the NCUA’s Voluntary Separation Programs, the number of participants, and the agency’s path forward. And all of us at NCUA are working together to build a more streamlined agency focused on executing our core mission of protecting the safety and soundness of the credit union system.”
Following the removal of Harper and Otsuka, Hauptman now serves as the sole Board member. Citing precedent from the early 2000s, the NCUA stated that the agency can lawfully operate under a single Board member until replacements are appointed and confirmed.
There has been no update or comment from the White House or the NCUA regarding whether replacements are being considered to fill the vacant positions.
Stakeholders are closely watching the agency’s next steps as it navigates governance under unprecedented conditions. Hauptman emphasized that the NCUA remains fully operational, saying, “Stakeholders can rest assured that NCUA is continuing to do the job that Congress demands of us and the American people expect.”
The May 22 meeting, the first Board meeting since February, will be held at the NCUA’s Alexandria, Va. headquarters and livestreamed on the agency’s website and YouTube channel.
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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.
