WASHINGTON—President Donald Trump Monday nominated Kyle Hauptman to fill Mark McWatters’ seat on the NCUA board, the White House announced.
Hauptman would take the seat of current board member J. Mark McWatters, whose term expired in August 2019. Should he be confirmed, Hauptman’s term on the NCUA board would run through August 2024.
Hauptman is currently Senator Tom Cotton’s (R-AR) advisor on economic policy, as well as staff director of the Senate Banking Committee’s Subcommittee on Economic Policy. Prior to joining Cotton’s office, Hauptman worked on the 2016 Presidential Transition Team.
From 2015 to 2016, Hauptman served on the United States Securities and Exchange Commission’s Advisory Committee for Small and Emerging Companies. Previously, he was Mitt Romney’s policy advisor for financial services during his 2012 campaign. Previously Hauptman was a fixed-income trader in Tokyo, New York City, and Sydney, Australia. He earned his MBA from Columbia University and his B.A. from UCLA.
CUNA Response
“The CUNA/league system congratulates Kyle Hauptman on his nomination to serve on the NCUA board,” said CUNA President/CEO Jim Nussle. “The NCUA board has its work cut out for it as the economic recovery gets underway, and we’re eager to continue our work with NCUA to ensure that credit unions remain in a position to serve their members during the crisis and into recovery.”
NAFCU Response
"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," said NAFCU President and CEO Dan Berger. "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,” continued Berger. “We appreciate his support of our efforts to modernize outdated regulations, reform capital standards, and make recent changes to the Central Liquidity Facility permanent."
Rodney Hood Statement
NCUA Chairman Rodney Hood issued a statement saying, “I congratulate Mr. Hauptman on President Trump’s intent to nominate him to the NCUA Board. 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.”
NASCUS Statement
“On behalf of the State Credit Union System, including state supervisory agencies and state-chartered credit unions, NASCUS congratulates Kyle Hauptman on his nomination to the NCUA Board,” said NASCUS President and CEO Lucy Ito. “If he is confirmed, we look forward to developing a productive relationship with Mr. Hauptman and collaborating with him, NCUA Board Chairman Hood and Board Member Harper to ensure credit unions remain strong, competitive members of the financial services industry. Mr. Hauptman’s experience in the broader financial sector and his service as an economic advisor to Senator Tom Cotton and as Staff Director of the Senate Banking Committee’s Subcommittee on Economic Policy should prove valuable to the NCUA Board as it continues to manage the repercussions of the COVID-19 pandemic and considers far-reaching rules regarding subordinated debt and combination transactions.”