ALEXANDRIA, Va.–For the first time since two of its members were fired by President Trump, an NCUA board meeting will be held today, with just one member present—Chairman Kyle Hauptman.
In mid-April, NCUA board members Todd Harper and Tanya Otsuka, both Democrats, were told by the White House their services were no longer needed. The agency cancelled its April board meeting but plans to proceed today, saying a one-person board does constitute a “quorum.”
Harper and Tanya Otsuka have filed a lawsuit seeking to be reinstated, arguing their removal violated the Federal Credit Union Act, among other things. Both former board members shared their thoughts, plans and more with the CU Daily here.
The Agenda
On the meeting agenda today are an update on the state of the NCUSIF as well as an update on the agency’s workforce reduction efforts, which has also been ordered by the Trump administration.
Unconfirmed reports have said approximately 20% of NCUA’s 1,200 employees are either taking voluntary early retirement or are being let go.
The CU Daily will have full coverage.
