NCUA Boardroom. Credit/NCUA
Hours after being sworn in for a second term, President Donald Trump named 15 new chairs and acting chairs for numerous federal agencies. Included in his list was Kyle Hauptman to take over the NCUA Board from Todd Harper.
With this selection, Hauptman becomes the 13th chair of the NCUA Board.
On his LinkedIn page, former Chairman Todd Harper posted, “BATON PASSED. My sincerest congratulations to Kyle Hauptman on his designation as Chairman of the National Credit Union Administration (NCUA). I’ve long appreciated Kyle's passion for financial innovation, desire for greater efficiency, and commitment to creating new #creditunions. What’s more, his sound grasp of the many issues affecting today’s credit union system as well as his appreciation for the hard work performed by the #NCUA team will allow Kyle to ably lead the agency.”
In a prepared statement, America’s Credit Unions President/CEO Jim Nussle said, “Congratulations to Kyle Hauptman on his appointment to serve as NCUA Board chair. During his service on the board, Hauptman has prioritized right-sized regulations, innovation, and field-of-membership reforms to ensure credit unions can operate effectively and efficiently. We look forward to continuing to work with Chair Hauptman on critical issues to allow more Americans to experience the credit union difference."
Along with the congratulations, America’s Credit Unions sent Hauptman a 20-page letter laying out its 2025 regulatory priorities for the NCUA, as well as thoughts on rolling back certain regulations as administered under Harper.
Nussle said he sees this “transition as an opportunity to reexamine and refine the regulatory landscape to better serve credit unions and their members.”
At the top of the list is America’s Credit Unions' desire for the NCUA to rescind Call Report changes requiring credit unions to report its overdraft and non-sufficient funds (NSF) fees information that went into effect on March 31 last year for credit unions with asset sizes above $1 billion.
“As we have steadfastly maintained, we wholeheartedly oppose the changes to the Call Report requiring credit unions to report overdraft and NSF fees,” the letter read.
“Aside from concerns regarding the manner in which such changes were adopted, we continue to have significant concerns with legal and reputational risks that credit unions may encounter. While we recognize that such information is now being reported and is generally available to the public, such concerns about the impact of this disclosure remain. As such, we urge the NCUA to reevaluate its position and consider whether revising its current approach (i.e., pausing public disclosure, while possibly continuing to require reporting) is appropriate.”
The NCUA can’t reverse its requirement for credit unions to report overdraft and NSF fees without a vote of the board. While Hauptman is now chair of the board, the other two members are Democratic appointees.
Carrie Hunt, AmCU’s chief advocacy officer, said the trade group is hoping Hauptman will simply order that the overdraft and NSF data is not released to the public in Call Reports — something she said is within the chair’s power.
Nussle's letter also asked Hauptman to rein in the NCUA’s spending as America’s Credit Unions stated “the year-over-year budget increases are unsustainable.”
America’s Credit Unions also continued its opposition to any third-party vendor authority by the NCUA, as well as any steps by the agency to regulate or have reporting requirements as it relates to climate change.
“Credit unions are in the best position to assess and manage climate-related financial risk. They are located within the communities they serve across the country. This is a stark contrast from the NCUA, operating primarily out of its headquarters in Alexandria, Virginia. While the NCUA is effective in helping credit unions manage certain risks, the unique nature of climate-related financial risk is more appropriately managed by the credit unions themselves. Consequently, we oppose the recently approved staff position that will focus on climate-related financial risk,” the letter stated.
Hauptman’s term on the NCUA Board is set to expire in August of this year.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
