NCUA Vice Chairman Kyle Hauptman Leads Dynamic Town Hall, Explores Crypto, Record Rules, and the Future of Credit Unions

For the second time in less than a year, National Credit Union Administration’s (NCUA) Vice Chairman Kyle Hauptman held a wide-ranging and entertaining town hall with League of Southeastern Credit Unions (LSCU) members.

“Since joining the Board, Vice Chairman Hauptman has been a steadfast supporter of innovation and modernization within the industry,” said Vice President of Federal Advocacy and Communications at LSCU Grace Newcombe, who hosted the conversation. “We are proud to partner with him in moving the industry forward to continue meeting the needs of consumers across the Southeast.”

Vice Chairman Hauptman’s event ran the gamut of issues, discussing everything from revising decades-old record-retention rules to establishing broad guidance around how credit unions can utilize cryptocurrency. He touched on how he believes credit unions can lead the way when it comes to blockchain technology and digital assets by taking advantage of cheaper and faster payment systems when possible. Vice Chairman Hauptman also discussed his personal mission to ensure that every federal credit union records its exit meeting at the end of their exam. Finally, he welcomed new Board Member Tanya Otsuka and expressed his appreciation for her background, especially her work at the Federal Deposit Insurance Corporation (FDIC).

“Amid an ever-changing regulatory environment, we appreciate Vice Chairman Hauptman’s transparency on issues impacting credit unions. As it pertains to removing unnecessary red tape and preserving access to critical financial services like overdraft protection, we will continue to work with our partners at the NCUA to protect the operating environment for credit unions,” concluded Newcombe.

Written by
Lizeth George
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The League of Southeastern Credit Unions & Affiliates represents nearly 300 credit unions throughout Alabama, Florida, and Georgia. It has a combined total of almost $200 billion in assets and 12.4 million members. LSCU provides advocacy, compliance services, education and training, cooperative initiatives, and communications.

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