ALEXANDRIA, Va. (Dec. 14, 2020) – The Honorable Kyle S. Hauptman became the 24th Board Member of the National Credit Union Administration following a swearing-in ceremony held today at the agency’s Alexandria, Virginia, headquarters.
NCUA Chairman Rodney E. Hood delivered the oath of office to Hauptman.
“I am proud to have been nominated by President Trump and confirmed by the U.S. Senate,” said Board Member Hauptman following his swearing-in. “It is an honor to serve on the Board of the National Credit Union Administration.”
Hauptman stated that 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. “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. The practice of less-frequent exam cycles for credit unions with the highest marks, for example, will incent them to maintain that benefit and allow the NCUA to focus more of its attention on problematic credit unions.”
President Donald J. Trump announced the nomination of Hauptman on June 15. The U.S. Senate Banking, Housing, and Urban Affairs Committee held its confirmation hearing on July 21, and the Senate approved his nomination on Dec. 2. Hauptman’s tenure will run through Aug. 2, 2025.
Prior to serving on the NCUA Board, Hauptman was Senator Tom Cotton’s (R-Arkansas) advisor on economic policy, as well as Staff Director of the Senate Banking Committee’s Subcommittee on Economic Policy. Before joining Senator Cotton’s office, Hauptman served on President Donald J. Trump’s transition team in 2016.
Previously, he held the position of Executive Director of the Main Street Growth Project and Senior Vice President at Jefferies & Co. He also worked at Lehman Brothers as a bond trader in New York City and in their international offices in Tokyo and Sydney. Hauptman served as a voting member on the U.S. Securities and Exchange Commission Advisory Committee on Small and Emerging Companies from 2016–2017.
Board Member Hauptman holds a master’s in business administration from Columbia Business School and a bachelor of arts from University of California, Los Angeles.