Hauptman eyeing three priorities for NCUA

(Dec. 18, 2020) Kyle Hauptman, sworn in as the latest (and 24th) member of the NCUA Board this week prior to participation in the Thursday and today’s board meetings, said he has three priorities as a board member: managing the fallout from the current pandemic and economic downturn, expanding the role of technology, and aligning 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,” said Hauptman in a release from NCUA. Echoing comments he made to the Senate Banking Committee last summer during his confirmation hearing, Hauptman added that he wants to “expand technology’s role in reaching the underserved because innovation can provide more inclusive financial services.

The newest board member also said that the practice of less-frequent exam cycles for credit unions with the highest marks “will incent them to maintain that benefit and allow the NCUA to focus more of its attention on problematic credit unions.”

Hauptman, nominated June 18 to the NCUA Board by President Donald Trump, has most recently served as a staff director for the Senate Banking Committee Economic Policy subcommittee and as an economic policy advisor to Sen. Tom Cotton (R-Ark.). He worked on the 2016 Trump presidential transition team and served as a policy advisor on financial services for 2012 Republican presidential nominee Mitt Romney (now a U.S. senator representing Utah).

According to NCUA’s release Monday, Hauptman holds a master’s in business administration from Columbia Business School and a bachelor of arts from University of California, Los Angeles

Hauptman Sworn in as NCUA Board Member