NCUA Chairman Rodney E. Hood swore in Kyle S. Hauptman as the 24th board member of the National Credit Union Administration on Dec. 14, and on Dec. 18, it was announced that Kaufman had been elevated to vice chairman of NCUA.
When he was sworn in, Hauptman said he has three priorities as a Board member: managing the fallout from the current pandemic and economic downturn, expanding the role 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,” said Hauptman. “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.”
Hauptman’s tenure will run through Aug. 2, 2025. Prior to serving on the NCUA Board, Hauptman was Senator Tom Cotton’s (R-Arkansas) advisor on economic policy, as well as Staff Director of the Senate Banking Committee’s Subcommittee on Economic Policy. Before joining Senator Cotton’s office, Hauptman served on President Donald J. Trump’s transition team in 2016.