The National Credit Union Administration’s plan for a May 22 open board meeting is no longer labeled “tentative” but will, the agency said Friday, include a briefing on the federal share insurance fund for credit unions and an “updated” briefing on the agency’s voluntary separation programs.
Friday’s announcement did not detail how the briefing on voluntary separation programs, previously scheduled for the now-canceled April meeting, is being “updated.” So far, reports have said the agency is looking to reduce staff by 20%.
“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 S. Hauptman said in a statement with Friday’s announcement. “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 briefing on the agency’s voluntary separation programs had been slated for the agency board’s April 17 open meeting, but that meeting was canceled amid the firings by President Donald Trump (R) of the board’s two Democratic members, Todd Harper (also a former NCUA Board chairman) and Tanya Otsuka; and a visit to the agency by members of the Trump administration’s Department of Government Efficiency (DOGE), the group led by Elon Musk that is behind the mass layoffs and firings across federal agencies.
The agency has said Hauptman now constitutes a “quorum” on the board, yet the agency’s own rules of board procedure state that two board members must be in agreement on any board action.
The May 22 open meeting is scheduled to begin at 10 a.m. Eastern. The briefing on the National Credit Union Share Insurance Fund (NCUSIF) will focus on the fund’s performance in the first quarter of this year, the agency said.
The remaining six open board meetings slated for the year are still labeled “tentative.”
NCUA Board to Hold Meeting on May 22
Federal Register notice (set to publish Wednesday)
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