Warren Requests Info from National Credit Union Administration on Lapse in Leadership Following Unlawful Firings

Warren Requests Info from National Credit Union Administration on Lapse in Leadership Following Unlawful Firings

"The Ranking Member's inquiry follows reports that the National Credit Union Administration's (NCUA) three-member board was completely vacant in mid-August.

"A vacant board raises serious questions regarding how - or if - the agency fulfilled its statutory duties to supervise the nation's $2 trillion credit union system and insure members' deposits."

Text of Letter (PDF)

Washington, D.C. - U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, wrote to Acting Inspector General of the National Credit Union Administration, Marta Erceg, seeking information about reports that the agency operated without any active board members from August 10 to August 24, 2026. This inquiry comes in light of the Ranking Member's previous call for an investigation into President Trump's firings of two NCUA board members last April, rendering the agency's board without a quorum.

"I am writing to request information regarding the apparent two-week lapse of leadership on the National Credit Union Administration (NCUA) board between August 10 and August 24, 2026," wrote Ranking Member Warren. "During this period, it appears that the agency operated without any active board members."

"In May, the President nominated John Crews to the board. Crews was confirmed by the Senate on August 7, 2026. However, Chairman Crews was not sworn in until August 24, 2026 - two weeks after it was announced that (formerNCUA Chairman Kyle) Hauptman had departed the NCUA," the Ranking Member continued. "During this time, it appears all three NCUA board seats were vacant."

"The NCUA conducts a number of critical functions, including ensuring that the nation's credit unions operate in a safe and sound manner, enforcing consumer protection and fair lending laws, and insuring members' deposits," wrote Ranking Member Warren. "A lapse in fulfilling those responsibilities could be devastating for consumers, small businesses, and communities that rely on credit unions to meet their financial services needs."

The Ranking Member concluded with a set of questions to better understand the impact of the two-week board vacancy on the NCUA's ability to oversee the multi-trillion dollar credit union system, requesting answers by October 21, 2026.

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