Read more at the Washington Credit Union Daily
Kyle Hauptman was sworn in Monday as a member of the National Credit Union Administration board.
Hauptman, a Republican, was sworn in by Chairman Rodney Hood; his term ends on August 2, 2025. Hauptman’s taking office will ensure that Republicans will continue to control the majority on the board even after President-elect Joe Biden takes office, and as expected, appoints Democrat Todd Harper as chairman.
Hauptman has identified three priorities for his term on the board—managing the economic fallout from the coronavirus crisis, expanding the use of technology, and using incentives as a regulatory tool.
“I want to expand technology’s role in reaching the underserved because innovation can provide more inclusive financial services,” Hauptman said. “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.”
Prior to taking his seat on the NCUA board, Hauptman was Sen. Tom Cotton’s (R-Ark.) advisor on economic policy and staff director of the Senate Banking Committee’s Economic Subcommittee. In 2016, Hauptman served on President Trump’s transition team.
He served as executive director of the Main Street Growth Project, a group that pushed deregulation efforts, and as a bond trader at Lehman Brothers at the time of its collapse. He has served as a member of the Securities and Exchange Commission Advisory Committee on Small and Emerging Companies.
He earned his bachelor’s degree from UCLA and a master’s degree in business administration from Columbia.