Credit Union Regulatory Guidance Including: NCUA, CFPB, FDIC, OCC, FFIEC

Samantha: NCUA Releases Staff
Message on the Current NCUA Board

ALEXANDRIA, Va.

(April 18, 2025) – The National Credit
Union Administration released today the

following message to all employees on
the current state of the N C U A Board:

“On April 17, the N C U A received
confirmation that President Donald J.

Trump terminated the positions
of Todd Harper and Tanya Otsuka.

Please be aware that Todd,
Tanya, and their staff are no

longer employed with the agency.

We thank them for their service.

“The departure of two of our three N C
U A Board Members has led to speculation

within the credit union industry and
trade press about the N C U A Board’s

ability to exercise authority with the
presence of only a single Board Member.

Please be assured that the N C U A
has precedent and standing delegations

of authority in place to continue
performing all operational and

statutory requirements under the
authority of a single Board Member.

“During the Bush Administration
(2001–2002), Chairman Dennis Dollar

acted as a sole Board Member.

He held a Board meeting, voted,
and took several actions, both

administrative and operational.

Chairman Dollar recently stated in an This
is an external link to a website belonging

to another federal agency, private
organization, or commercial in CU Today,

“The records are in place at N C U A from
2002 that clearly establish the precedent

that the Chairman can act as the Board.”

“It is the N C U A’s long-held view that
a single Board Member constitutes a quorum

when there are no other Board Members.

Chairman Hauptman and N C U A’s
leadership are equipped with the required

authorities to continue implementing the
Administration’s priorities and fulfilling

our mission of protecting the system of
cooperative credit and its member-owners

through effective chartering,
supervision, regulation, and insurance.

“Together, we will ensure America’s
credit unions are safe and sound,

address any unnecessary regulatory
barriers to their prosperity, and

provide excellent service to the public.”