Kyle S. Hauptman

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Kyle S. Hauptman
Vice Chairman of the National Credit Union Administration
Assumed office
December 14, 2020
PresidentDonald Trump
Preceded byJ. Mark McWatters
Personal details
Born (1973-12-13) December 13, 1973 (age 50)
Political partyRepublican
EducationUniversity of California, Los Angeles (BA)
Columbia Business School (MBA)
WebsiteGovernment website

Kyle S. Hauptman is the Vice Chairman of the National Credit Union Administration (NCUA).[1] He was nominated[2] to serve the position on the NCUA Board on June 15, 2020, by President Donald J. Trump.[3] The US Senate voted to confirm his appointment on December 2, 2020,[4] and he was sworn in as a member of the NCUA Board on December 14, 2020.[5] The NCUA Board approved Hauptman's designation as Vice Chairman of the NCUA on December 18, 2020.

Early life and education[edit]

Hauptman is from Bar Harbor, Maine. His father was the former superintendent of Acadia National Park.[6] He is a New England Patriots fan.[7]

Hauptman holds a Master's in Business Administration from Columbia Business School and a Bachelor of Arts from University of California, Los Angeles. He received a certificate in Economics of Blockchain and Digital Assets from the Wharton School of the University of Pennsylvania.

Career[edit]

Prior to his public service career, Hauptman was Senior Vice President at Jefferies & Co where he traded US Treasuries and futures, managing a multi-million dollar trading book. Previously, Hauptman worked at Lehman Brothers as a bond trader in their New York City, Tokyo, and Sydney offices until the company collapsed during the 2008 global financial crisis.

Hauptman then served as Senator Mitt Romney's (R-Utah) economic policy advisor during the 2012 presidential campaign, responsible for the campaign's policy on financial markets, financial regulation, and housing issues. Hauptman also served as policy consultant for the National Republican Senatorial Committee, as senior development manager at the American Enterprise Institute,[8] and as Executive Director of the Main Street Growth Project, an advocacy group focused on protecting everyday Americans and small businesses from becoming caught in the crossfire of the effort to "reform Wall Street."

Prior to joining the NCUA Board, Hauptman was appointed by the Securities and Exchange Commission Chair to a two-year term as a voting member of the Advisory Committee on Small and Emerging Companies.[9] Hauptman also served on President Donald J. Trump's transition team in 2016.[10]

Hauptman left the SEC committee in 2017 to serve as 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.[11]

NCUA[edit]

In December 2020, the Senate voted 56 to 39 to confirm Kyle Hauptman to the National Credit Union Administration Board.[12] The Senate Banking Committee held the nomination hearing remotely over video due to the COVID-19 pandemic.[13]

Former Senate Banking Committee Chairman Mike Crapo (R-Idaho) said that Mr. Hauptman was "well prepared to join the NCUA Board based on his prior experience" in the financial sector and for having worked on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.[14] Hauptman's former boss Senator Tom Cotton (R-Arkansas) said, "I voted to confirm Kyle with enthusiasm. My enthusiasm is mixed with sadness to see a close and trusted aid go, but my loss will be America's gain. The NCUA, American taxpayers, and millions of people who rely on credit unions will be well-served by Kyle, who brings to the job a collegial spirit and rare knowledge of financial markets."[15]

In December 2021, under Hauptman's leadership, NCUA issued new guidance providing clarity that credit unions could partner with third-party digital asset service providers.[16] On May 25, 2022, NCUA issued another piece of guidance allowing credit unions to use distributed ledger technologies (DLT).[17] Hauptman remarked, "We [America] can win the blockchain economy as well — we just need some clarity from the government. I'm proud that the NCUA is doing its small part."[18]

References[edit]

  1. ^ "The Honorable Kyle S. Hauptman". NCUA. Retrieved 2022-12-01.
  2. ^ "Trump Nominates Kyle Hauptman To Fill NCUA Board Seat". CUToday. June 15, 2020. Retrieved 2022-12-01.
  3. ^ Angell, Melissa (June 19, 2020). "How Trump's latest nominee could reshape the NCUA board". American Banker. Retrieved 2022-12-01.
  4. ^ Passman, Aaron (December 2, 2020). "Senate confirms Kyle Hauptman to NCUA board". American Banker. Retrieved 2022-12-01.
  5. ^ "Hauptman Sworn in as NCUA Board Member". NCUA. December 14, 2020. Retrieved 2022-12-01.
  6. ^ "Maine Special: Interview". C-SPAN. September 2, 1989. Retrieved 2022-12-01.
  7. ^ "Kyle Hauptman, New England Patriots".
  8. ^ "Kyle Hauptman". American Enterprise Institute - AEI. Retrieved 2022-12-01.
  9. ^ "SEC.gov | SEC Announces Advisory Committee on Small and Emerging Companies Members". www.sec.gov. February 4, 2016. Retrieved 2022-12-01.
  10. ^ Tracy, Ryan (December 21, 2016). "Regulatory Critic Added to Trump Transition Team for CFPB, FSOC". WSJ. Retrieved 2022-12-01.
  11. ^ December 1, 2020: Senator Cotton Speaks in Favor of Kyle Hauptman's Confirmation, retrieved 2022-12-01
  12. ^ Passman, Aaron (December 2, 2020). "Senate confirms Kyle Hauptman to NCUA board". American Banker. Retrieved 2022-12-01.
  13. ^ "Senate Session | C-SPAN.org". www.c-span.org. Retrieved 2022-12-01.
  14. ^ "Senate Banking Committee Holds Nomination Hearing for Kyle Hauptman | Cooperative Credit Union Association". www.ccua.org. July 21, 2020. Retrieved 2022-12-01.
  15. ^ December 1, 2020: Senator Cotton Speaks in Favor of Kyle Hauptman's Confirmation, retrieved 2022-12-01
  16. ^ "Relationships with Third Parties that Provide Services Related to Digital Assets". NCUA. December 2021. Retrieved 2022-12-01.
  17. ^ "Federally Insured Credit Union Use of Distributed Ledger Technologies". NCUA. May 2022. Retrieved 2022-12-01.
  18. ^ "NCUA Vice Chairman Kyle S. Hauptman Statement on Credit Union Use of Distributed Ledger Technologies Letter to Credit Unions". NCUA. May 2022. Retrieved 2022-12-01.
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