NCUA says chairman taking time off for back surgery

Todd Harper, the chairman of the federal agency that regulates credit unions, told staff Monday that he will be taking time off to undergo and recover from back surgery, the agency said in a release.

The National Credit Union Administration (NCUA), in the release, did not offer any indication of who might be acting in Harper’s stead while he’s out. However, the agency’s own rules of board procedure state that with respect to board meetings, the designated vice chairman (in this case, that would be Kyle Hauptman; the other board member is Tanya Otsuka) is to preside in the chairman’s absence.

The NCUA release includes quotes from Harper expressing confidence in the staff to carry on while he’s away. He said, according to the release, that his time away will begin this week and that he expects to return to “full duties” in July.

The release includes no mention of any impact on the board’s open meeting schedule (meetings are slated for May 22 and June13) or whether Harper expects to be back in time for the meeting currently scheduled July18.

“In the weeks ahead, I know that you – the NCUA team – will not miss a beat!” he reportedly said in his message to staff. “You will continue executing the agency’s mission to protect credit union members and their deposits, safeguard the Share Insurance Fund from losses, and ensure credit unions fulfill their responsibilities for safety and soundness, consumer financial protection, and other laws.

“Once I return to my full duties, I look forward to continuing to work with you to build a stronger, increasingly resilient, and more equitable credit union system that works for all.”

Chairman Harper’s Statement on His Temporary Leave of Absence

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