NEW YORK–Inclusiv has issued a statement strongly critical of the White House decision to fire NCUA board members Todd Harper and Tanya Otsuka. 

Reporting around the firings can be found here.

“We are shocked and dismayed by the White House’s termination of two-thirds of the National Credit Union Administration’s (NCUA) Board,” Inclusiv said in a statement.  “The President’s unprecedented firing of two committed public servants in the middle of their terms, apparently on the basis of political affiliation, is deeply concerning for the credit union system and for public trust in our financial system as a whole.  

“NCUA Board members are appointed by the President and confirmed by the Senate and remain in their roles through changes in presidential administrations,” the statement continued. “The implications of a President terminating an NCUA Board member prior to the completion of the term to which they have been appointed and confirmed are significant and call into question the future independence of the NCUA. The independence of the NCUA as regulatory agency is critical to safeguarding credit union members’ assets and to the successful functioning of our financial system overall. “

AACUC Issues Statement

Separately, the African America Credit Union Coalition has also issued a statement.

“We would like to thank former NCUA Board Members Todd Harper and Tanya Otsuka for their service and leadership,” AACUC President and CEO Renée Sattiewhite said in the statement. “Throughout their tenure, both individuals demonstrated a consistent willingness to engage with AACUC and our members in meaningful and constructive ways. We are especially proud to count former Board Member Harper among our Hall of Fame honorees, recognizing his longstanding commitment to the credit union system.”

“We remain committed to continue to work closely with Chairman Kyle Hauptman and appreciate his partnership as we address the critical issues facing credit unions and their members.”