Inclusiv Statement on the White House’s Firing of NCUA Vice Chairman Harper and Board Member Otsuka

New York, NY (April 16, 2025) Inclusiv issued the following statement regarding the White House’s abrupt firing of NCUA Vice Chairman Harper and Board Member Otsuka:

We are shocked and dismayed by the White House’s termination of two-thirds of the National Credit Union Administration’s (NCUA) Board. The President’s unprecedented firing of two committed public servants in the middle of their terms, apparently on the basis of political affiliation, is deeply concerning for the credit union system and for public trust in our financial system as a whole.  

NCUA Board members are appointed by the President and confirmed by the Senate and remain in their roles through changes in presidential administrations. The implications of a President terminating an NCUA Board member prior to the completion of the term to which they have been appointed and confirmed are significant and call into question the future independence of the NCUA. The independence of the NCUA as regulatory agency is critical to safeguarding credit union members’ assets and to the successful functioning of our financial system overall.