Trump Picks Kyle Hauptman to Serve on NCUA Board
Hauptman is expected to replace J. Mark McWatters, whose term expired last year.
The White House announced on Monday that President Trump will nominate Kyle Hauptman to the NCUA board.
Hauptman is currently Sen. Tom Cotton’s (R-Ark.) economic advisor as well as the Staff director of the Senate Banking Committee’s Subcommittee on Economic Policy.
Board member J. Mark McWatters, whose term expired last August, had said he would remain on the board until a replacement was named. McWatters is one of two Republicans serving on the board – the other is Chairman Rodney Hood.
In a statement published Monday, Chairman Hood said, “I congratulate Mr. Hauptman on President Trump’s intent to nominate him to the NCUA Board.” Hood continued, “Kyle has significant experience in the financial services sector as well as the public policy arena, which will serve him well. If confirmed, I look forward to working with Kyle to ensure credit unions have the regulatory structure to meet the evolving needs of their members and serve as a vital component of the nation’s economic recovery following the COVID-19 pandemic. I wish him well as he proceeds through the nomination process.”
According to White House officials, prior to joining Sen. Cotton’s office, Hauptman worked on the 2016 Presidential Transition Team, and served on the United States Securities and Exchange Commission’s Advisory Committee for Small and Emerging Companies from 2015-2016.
In an email statement, NAFCU President/CEO Dan Berger said, “We look forward to working with Mr. Hauptman once he is confirmed to ensure a healthy regulatory environment where credit unions can grow and focus their resources on serving their more than 120 million members.”
According to a statement on CUNA’s website, CUNA President/CEO Jim Nussle said, “The CUNA/League system congratulates Kyle Hauptman on his nomination to serve on the NCUA board. The NCUA board has its work cut out for it as the economic recovery gets underway, and we’re eager to continue our work with the NCUA to ensure that credit unions remain in a position to serve their members during the crisis and into recovery.”
It is unclear when Hauptman’s nomination will be discussed and potentially be confirmed. If confirmed, he would serve through August 2024.