August 06, 2020

NCUA nominee advanced to full Senate

capitolThe Senate Banking Committee Wednesday advanced Kyle Hauptman's nomination to the NCUA Board - by voice vote -  to the full Senate for consideration. Hauptman was nominated by President Donald Trump in June to replace NCUA Board Member J. Mark McWatters, whose term expired in August 2019.

Hauptman testified before the committee last month and outlined his priorities for the board if he were to be confirmed, which include:

  • managing fallout from the current pandemic and economic crisis;
  • expanding use of technology, including for financial inclusion; and
  • aligning incentives to ensure credit unions' safety and soundness are in line with serving members effectively.

Hauptman also addressed questions from senators on the current expected credit loss (CECL) standard, diversity, equity, and inclusion (DEI) efforts, and more.

Hauptman currently serves as economic and policy advisor to Senator Tom Cotton, R-Ark. He also served on the 2016 Presidential Transition Team, the U.S. Securities and Exchange Commission's Advisory Committee for Small and Emerging Companies from 2015-2016, and as policy advisor for financial services during Mitt Romney's 2012 presidential campaign.