ALEXANDRIA, Va.–The July 24, 2025 meeting of the NCUA board may qualify as among the most unique in the history of the agency, with one of its members offering a bigger picture reminder of what the job is supposed to be about.
The meeting came two days after a court ruled that Democratic board members Todd Harper and Tanya Otsuka, who were fired by President Trump in mid-April, be reinstated to their positions. As a result, what just a week earlier had been expected to be a board meeting with just one person present—Chairman Kyle Hauptman—had all three members present, with Harper joining virtually and Otsuka being present in person.
The status of the NCUA board remains very much in flux, as the District Court opinion reinstating the two board members has been appealed by the federal government to the Supreme Court.
Have I Missed Anything?
When it was his time to first speak, Harper joked, “It’s been three months: Have I missed anything?
In closing the meeting, Otsuka said she was happy to be working with both NCUA staff and engaging with credit unions again, as well as the broader public.
“Congress has entrusted the NCAA with the responsibility to protect credit union members and the credit union system,” Otsuka said. “Our ability to do that job depends on a strong, independent agency that focuses on the long-term safety and stability of our financial system. I will continue to carry out the NCUA mission.”
Time for Review
Otsuka said she plans to review issues and developments that have occurred while she has been absent, including several credit union liquidations and conservatorships, top personnel actions (20% of the agency’s staff has agreed to leave as part of President Trump’s ordered job reductions while Otsuka and Harper have been gone), and other rulemakings.
‘Confidence & Stability’
“I plan to work with my fellow board members on many of our shared goals and priorities, like support for small credit unions,” Otsuka said. “We need to get back to work with a full NCUA board. Our reinstatement on the NCA board is important for the millions of people who trust federally insured credit unions with their hard-earned money. It’s also important for our entire financial system. Independent financial regulators are key to making sure we have confidence and stability in our markets and economy.”
Visit TheCUDaily.com for coverage of the three issues that were on the board agenda.
