Last week, the NCUA announced it would be conducting a board meeting this Thursday, September 18th. This board meeting marks the third in which the lone remaining member of the NCUA, Chairman Kyle Hauptman, is acting as a one-member quorum, since the firings of board members Todd Harper and Tanya Otsuka back in April.

Harper and Otsuka were meant to be in attendance at this meeting, since a federal judge ruled their removal from the board was unconstitutional in July and ordered their reinstatement, however, that reinstatement was stayed by an appeals court shortly after.

Ahead of the meeting, Americas’ Credit Unions reinforced its belief in a independent three-member board, subtly registering its discontentment with Hauptman’s solo-running of the agency for the past five months. At the same time, the Department of Justice argued again last week that there is no statutory language restricting the president’s at-will removal power.

Though his term technically ends in August of this year, the agency has been quoted as saying that Hauptman will continue to serve as Chairman “until further notice” or “unless the President wishes otherwise.” With the legal proceedings holding Otsuka and Harper’s fate in limbo—and their seats on the board unfillable until the issue is resolved—and the federal government’s ongoing hiring freeze lasting until at least mid-October, it’s possible Hauptman could be running the agency solo for the remainder of 2025 or beyond.

Despite the ongoing legal arguments regarding the board, Thursday’s meeting should be routine affair, with only one item—an update on the Share Insurance Fund—on the agenda for the day. The meeting begins at 10 a.m. EST and will be livestreamed on the NCUA’s website and their YouTube page.