President Donald Trump announced Monday the nomination of Kyle Hauptman to the NCUA board. Hauptman would take the seat of current board member J. Mark McWatters, whose term expired in August 2019.

“The CUNA/League system congratulates Kyle Hauptman on his nomination to serve on the NCUA board,” said CUNA President/CEO Jim Nussle. “The NCUA board has its work cut out for it as the economic recovery gets underway, and we’re eager to continue our work with NCUA to ensure that credit unions remain in a position to serve their members during the crisis and into recovery.”

“We appreciate President Trump announcing his intention to make this nomination and look forward to working with Mr. Hauptman at the appropriate time.”

Hauptman, a native of Maine, is currently an advisor for Sen. Tom Cotton (R-Ark.) on economic policy and staff director of the Senate Banking Committee’s subcommittee on economic policy. Prior to joining Cotton’s office, Hauptman worked on the 2016 Presidential Transition Team.

From 2015 to 2016, Mr. Hauptman served on the United States Securities and Exchange Commission’s Advisory Committee for Small and Emerging Companies.  Previously, he was Mitt Romney’s policy advisor for financial services during his 2012 campaign.

Should he be confirmed, Hauptman’s term on the NCUA board would run through August 2024.

NCUA Chairman Rodney Hood issued a statement Monday. 

“I congratulate Mr. Hauptman on President Trump’s intent to nominate him to the NCUA Board," Hood said. “Kyle has significant experience in the financial services sector as well as the public policy arena, which will serve him well. If confirmed, I look forward to working with Kyle to ensure credit unions have the regulatory structure to meet the evolving needs of their members and serve as a vital component of the nation’s economic recovery following the COVID-19 pandemic. I wish him well as he proceeds through the nomination process.”