Kyle Hauptman has been sworn-in as the 24th board member of the National Credit Union Administration (NCUA). The oath of office was delivered by Chairman Rodney Hood.
The new board member said he has three priorities going forward: managing the fallout from the current pandemic and economic downturn, expanding the rule 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,” Hauptman said in a release. “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.”
Prior to joining the NCUA board, Hauptman advised U.S. Sen. Tom Cotton (R-Ark.) on economic policy and was staff director of the Senate Banking Committee’s Subcommittee on Economic Policy.
“I am proud to have been nominated by President Trump and confirmed by the U.S. Senate,” Hauptman said. “It is an honor to serve on the Board of the National Credit Union Administration.”