Judge gavel and scale in court. Library with lot of books in background

Senate Banking Committee hears testimony from NCUA nominee Hauptman

The Senate Banking Committee met remotely yesterday, July 21, in a hearing for Kyle Hauptman’s nomination to the National Credit Union Administration board. Though the nominee has no direct credit union experience, he does have an extensive background in banking.

In testimony, Hauptman said, “These last few months have demonstrated the cooperative nature of credit unions, as they’ve waived fees and adjusted loans before anyone in D.C. told them to do so. Many of us also recall the last government shutdown when credit unions gained members by offering interest-free loans to furloughed workers. But this reputation depends on proper oversight from NCUA.”

Hauptman, who says his Top 3 priorities at the NCUA would be managing the fallout from the current pandemic and economic downturn, examining use of technology and aligning incentives. If confirmed, he will be the third and final Trump nominee to be appointed to the board until at least August of next year.

Also in testimony, Hauptman said, “Credit unions help people achieve the same American dream that my dad experienced, born in Brooklyn to parents with fourth-grade educations. His dad, my grandfather, worked in the New York City subway putting up advertising. That man’s grandson is now before the U.S. Senate, a testament to American opportunity, and at NCUA my overarching goal will be extending that kind of opportunity to as many people as possible.”

Chairman Mike Crapo asked that Questions for the Record be submitted by Senators by Thursday, July 23, and that witnesses provide answers by Monday, July 27.  The vote in committee is expected on July 30 before the Aug. 7 recess. With that timeline, NCUA’s Mark McWatters will participate in a final board meeting during his term on July 30.

View the nomination hearing here.

Written by
Cara Clark
View all articles

About Us

The League of Southeastern Credit Unions & Affiliates represents 342 credit unions in Alabama, Florida and Georgia, with a combined total of $118.63 billion in assets and more than 10.1 million members. LSCU & Affiliates provides legislative and regulatory advocacy; education and training; cooperative initiatives (including financial education outreach); public messaging; information services; and business solutions.

LSCU Mission Statement

To create an environment that enables credit unions to grow and succeed.

LSCU Vision Statement

To be the trusted advocate and preferred source of information for credit unions.

If you need to reach us, e-mail communications@lscu.coop

Social Channels

Follow us on all major social media platforms.