President Donald Trump announced his intent to nominate Kyle Hauptman, a staffer for Sen. Tom Cotton (R-Ark.) to a position on the board of the National Credit Union Administration (NCUA).
Hauptman is Cotton’s advisor on economic policy, and is a staff director for the Senate Banking Committee’s Subcommittee on Economic Policy.
Hauptman is being tabbed to replace J. Mark McWatters, who was appointed to the NCUA board in 2014 and became chairman until the confirmation of Rodney Hood.
“I congratulate Mr. Hauptman on President Trump’s intent to nominate him to the NCUA Board,” Hood said in a statement. “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.”
Prior to joining Cotton’s office, Hauptman worked on the 2016 Presidential Transition Team. From 2015 to 2016, he served on the United States Securities and Exchange Commission’s Advisory Committee for Small and Emerging Companies. He also had been Mitt Romney’s policy advisor for financial services during his 2012 campaign and a fixed-income trader in Tokyo, New York City, and Sydney, Australia.
Hauptman was congratulated by the National Association of Federally-Insured Credit Unions (NAFCU) on his nomination.
“NAFCU has worked with the NCUA since its inception when advocating for the credit union industry’s needs and appreciates the administration for recognizing the importance of this position,” NAFCU President and CEO Dan Berger said in a statement. “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.
“We would also like to thank board member J. Mark McWatters for his many years of service on the NCUA board and to the credit union industry. We appreciate his support of our efforts to modernize outdated regulations, reform capital standards, and make recent changes to the Central Liquidity Facility permanent.”