Markets Wired

ALEXANDRIA, Va. (Dec. 18, 2020) – The National Credit Union Administration Board approved the designation of Board Member Kyle S. Hauptman as Vice Chairman of the NCUA, effective immediately, pursuant to the requirements of NCUA’s Rules and Regulations.

“I thank President Trump for this honor and the trust he has placed in me,” Vice Chairman Hauptman said. “As Vice Chairman of the NCUA, I look forward to working with credit unions, my fellow Board Members, and Congress on solutions that provide regulatory relief for the credit union community and expand the use of technology to reach underserved communities. 

“I am committed to the NCUA Board’s obligation to protect America’s $1.79 trillion credit union system, which is dedicated to serving those of modest means, and ensuring the safety and soundness of the National Credit Union Share Insurance Fund.”

President Donald J. Trump announced the nomination of Hauptman on June 15. The U.S. Senate Banking, Housing, and Urban Affairs Committee held its confirmation hearing on July 21, and the Senate approved his nomination on Dec. 2. Hauptman took the oath of office on Dec. 14. 

Before 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.

Previously, he held the position of Executive Director of the Main Street Growth Project and Senior Vice President at Jefferies & Co. He also worked at Lehman Brothers as a bond trader in New York City and their international offices in Tokyo and Sydney. Hauptman served as a voting member on the U.S. Securities and Exchange Commission Advisory Committee on Small and Emerging Companies from 2016–2017.