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Presidential Power and Independent Agency Autonomy: The 2025 NCUA Board Removal Case

I. Legal and Constitutional Framework

• A Constitutional Showdown Begins
• From "At Pleasure" to Independence: The 1978 Restructuring
• The Humphrey's Executor Precedent: Protecting Independent Agencies
• Unitary Executive vs. Congressional Design
• The Narrowing Path of Agency Independence
• Swan v. Clinton: The Precedent That Wasn't Quite
• 50 Years of Respect for Fixed Terms

II. The NCUA's Specific Structure and Functions

• The Removed Regulators: Harper and Otsuka
• The NCUA: A Core Financial Regulator
• Executive Function or Independent Regulation?
• The NCUSIF: Owned by Credit Unions, Not Government
• The Central Liquidity Facility: A Link to Treasury
• Operating Without a Quorum
• Financial Stability at Stake

III. Litigation Strategy and Broader Implications

• Six Legal Theories for Victory
• David vs. Goliath: The Legal Team
• The Long Road to the Supreme Court
• Beyond NCUA: Implications for the Administrative State