Remaining National Credit Union Administration (NCUA) Board meetings listed for 2025 are now labeled “tentative” on the agency’s published schedule – and if one does occur, it could well be a meeting of “me, myself and I” since Kyle Hauptman, the board’s Republican chairman, is currently the only board member.
The April NCUA Board open meeting was canceled last week as news came that the two Democrats on the agency’s board – Todd Harper (also a former chairman) and Tanya Otsuka – had been fired by President Donald Trump (R).
The April meeting was to include two briefings for the board, including one on the agency’s so-called “voluntary separation agreements.” The latter item was widely expected to address the Trump administration’s demand (delivered via the Department of Government Efficiency, headed by Elon Musk) that it come up with a plan for reducing a portion of its staff.
There have been no public statements addressing any staffing reductions at the NCUA, but it’s possible there won’t be any even if reductions are carried out. Meanwhile, no one, so far, appears to have been nominated by the president to fill either of the two NCUA Board vacancies.
The agency released a message it sent to staff last week stating that it is “the NCUA’s long-held view that a single Board Member constitutes a quorum when there are no other Board Members.” It adds that that Hauptman “and NCUA’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.”
Meanwhile, the NCUA rules of board procedure state that two board members must be in agreement on any board action.
The remainder of the NCUA’s board meeting schedule shows meetings slated for May 22, June 17, July 24, Sept. 18, Oct. 23, Nov. 20, and Dec. 18 are “tentative.” The agency’s budget actions and decisions on the normal operating level of the National Credit Union Share Insurance Fund (the federal fund that insures deposits in credit unions) typically take place over the fall months.
A mid-session budget review would usually be expected in July, and an NCUSIF report (data as of June 30) in September.
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