The NCUA issued a message to its employees affirming that the agency remains fully capable of meeting all operational and statutory obligations under the leadership of a single Board member.

This statement follows the recent removal of Board Members Todd Harper and Tanya Otsuka by President Trump, leaving Chairman Kyle Hauptman as the sole remaining member of the Board.

The communication emphasized that, in accordance with long-standing agency policy, a single Board member constitutes a quorum in the absence of others.

“It is the NCUA’s long-held view that a single Board Member constitutes a quorum when no other members are present. Chairman Hauptman, along with the NCUA’s leadership team, possesses the necessary authority to continue advancing the Administration’s priorities and carrying out the agency’s mission of protecting the cooperative credit system and its member-owners through effective chartering, supervision, regulation, and insurance.”

The message concluded with a reaffirmation of the agency’s commitment:

“Together, we will ensure America’s credit unions remain safe and sound, eliminate unnecessary regulatory barriers to their growth, and continue delivering excellent service to the public.”

Credit Union System Responds
During a webinar on Monday to address the recent changes, America’s Credit Unions (ACU) reiterated its position – shared by Leagues – that an independent regulator remains the most effective model for credit union oversight. ACU also urged the Administration to swiftly appoint replacements to the NCUA Board.

For ongoing updates and analysis on the developments at NCUA, review ACU’s Frequently Asked Questions resource.