On April 18, the NCUA confirmed that President Trump terminated the positions of two NCUA board members, Todd Harper and Tanya Otsuka, leaving the agency with a single board member: Chairman Kyle S. Hauptman. The NCUA assured employees and the credit union industry that this decision was not without precedent, referencing a similar situation during the Bush Administration during which Chairman Dennis Dollar was the sole NCUA board member for a period from 2001-2002. The NCUA stated that it had long held the view that a single board member constituted a quorum when only a single board member existed. The agency emphasized its commitment to protecting the credit union system and ensuring regulatory compliance despite the reduced board size.
[View source.]
