WASHINGTON—The Senate Banking Committee is set to vote on the nomination of Kyle Hauptman to the NCUA board during an executive session Thursday.
Hauptman has been nominated to replace NCUA Board Member J. Mark McWatters, whose term expired in August 2019. If approved by the Senate Banking Committee Thursday, Hauptman's nomination will then go to the full Senate for consideration. The NCUA board itself is also to meet on Thursday, which could be the last meeting for McWatters.
Hauptman testified before the committee last week and outlined his priorities for the board if he were to be confirmed.
The Priorities
Among Hauptman's priorities:
- Managing fallout from the current pandemic and economic crisis
- Expanding use of technology, including for financial inclusion
- 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 Sen. Tom Cotton (R-AK). 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.