Hauptman shares video; NCUA releases May 22 board meeting agenda

NCUA Board Chairman Kyle Hauptman spoke publicly in a video (see below) on LinkedIn Friday following the release of the NCUA’s May 22 board meeting agenda. This will be the first meeting of the NCUA Board since both the March and April meetings were cancelled and board members Todd Harper and Tanya Otsuka were removed April 16.

Hauptman, who is the sole remaining member of the board, outlined the agenda, noted the agency is “renewing our focus on what is mission critical,” and dispelled rumors in his video message.

“This Board meeting will provide the public information on the NCUA’s Voluntary Separation Programs, the number of participants, and the agency’s path forward,” NCUA Chairman Kyle Hauptman said. “And all of us at NCUA are working together to build a more streamlined agency focused on executing our core mission of protecting the safety and soundness of the credit union system. Stakeholders can rest assured that NCUA is continuing to do the job that Congress demands of us and the American people expect.”

The May 22 meeting will stream live on the NCUA’s website starting at 10 a.m. Eastern, and feature briefings on: 

• The National Credit Union Share Insurance Fund’s performance in the first quarter of 2025; and
• NCUA’s Voluntary Separation Programs, which was a previously scheduled agenda item for the canceled April meeting.

The NCUA indicated in a release following the departure of Harper and Otsuka that a single board member constitutes a quorum when there are no other board members.

America’s Credit Unions Chief Advocacy Officer Carrie Hunt issued a statement last week on the organization’s strong support for a separate, independent regulator run by a three-person board.

“That has been our long-standing position that we have reiterated after the removal of Mr. Harper and Ms. Otsuka. We support the NCUA in its role as a custodian of credit union safety and soundness and recognize that the agency needs to function,” she said. “How and if we support specific agency action will continue to be the reflection of the needs and wants of our members, with positions carefully formulated by our committees and board. This was true yesterday, and it will be true tomorrow. America’s Credit Unions with our more than 4,000 credit union members takes the trust of our members seriously, and use all the tools in our toolbox, whether legislative, legal or educational to further the credit union difference.”

She responded to Friday’s meeting announcement reiterating “we support the NCUA in its mission to protect the safety and soundness of the credit union industry and thank Chairman Hauptman for his stewardship during this time.”

America’s Credit Unions continues engaging the agency to seek clarity on next steps during this interim period. An FAQ document is available on America’s Credit Unions website.