Banking

Kyle Hauptman formally joins NCUA board

Kyle Hauptman has been sworn in as a board member of the National Credit Union Administration, with NCUA Chairman Rodney Hood administering the oath of office during a ceremony at the regulator’s headquarters in Alexandria, Va.

After being sown in, Hauptman outlined three priorities for his time on the panel: dealing with the economic turmoil from the coronavirus pandemic, “aligning incentives” and expanding the use of technology. He used longer exam cycles for well-run institutions as an example of what he will push for in terms of incentives.

“Credit unions were chartered to serve those of modest means. I plan to work with credit unions, my fellow board members and Congress on solutions for those facing financial stress,” Hauptman said in a press release Monday. “I want to expand technology’s role in reaching the underserved because innovation can provide more inclusive financial services. And, I have always believed that you get what you incentivize.”

President Trump nominated Hauptman in June to fill former Chairman Mark McWaters’s seat. McWaters initially said he would stay on the board until his replacement was seated but abruptly resigned after clashing with Hood over the agency’s proposed budget.

Hauptman was approved by the Senate Banking Committee in July followed by a confirmation vote by the full Senate earlier this month. His term runs until August 2025.

Prior to joining NCUA, Hauptman worked for Sen. Tom Cotton, R-Ark., as an advisor on economic policy and as staff director of the Senate Banking Committee’s Subcommittee on Economic Policy. Before that, Hauptman was part of Trump’s transition team in 2016.

Hauptman is expected to participate in NCUA’s regular monthly board meeting this week. Given the packed agenda, the meeting has been spread out over two days.


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