Members of Credit Union Watchdog Fired by White House
WASHINGTON — Two board members of the National Credit Union Administration (NCUA), Todd Harper and Tanya Otsuka, were fired late yesterday by the White House. The NCUA, an independent regulatory agency, oversees credit unions across the country, insuring deposits up to $250,000. The agency is responsible for the safety and soundness of the nation’s credit union system, which provides banking services for over 140 million Americans. President Trump appointed Harper in his first term; President Biden named him chairman of the NCUA in 2021, and the Senate confirmed his appointment for a term set to end in 2027. Otsuka was nominated by President Biden and confirmed by the Senate in 2023 for a term ending in 2029. The firings today are the latest in a series of firings of commissioners in independent agencies, some of which are being actively litigated in courts.
In response, Mekedas Belayneh, policy advocate with Public Citizen’s Climate Program, issued the following statement:
“In yet another illegal and unconstitutional blow to financial safeguards and democratic norms, the White House has fired Democratic board members Tanya Otsuka and Todd Harper from the NCUA. This move aims to strip critical protections from consumers and community lenders. Credit unions crucial to building climate resilience in local communities and on the frontlines of climate disasters can’t simply pack up and pivot like Wall Street giants. If Trump were to succeed with this unconstitutional gambit, it would mean fewer protections, greater financial instability, and a system increasingly rigged against consumers facing growing financial risks from climate disasters.
“Trump’s firings of independent agency officials are contrary to Supreme Court precedent and unconstitutional, and we expect these firings—including at the NCUA—to be struck down.”
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