Kyle Hauptman was named the 13th chair of the NCUA Board Monday afternoon, and America’s Credit Unions President/CEO Jim Nussle congratulated him on the appointment.

“Congratulations to Kyle Hauptman on his appointment to serve as NCUA Board chair. During his service on the board, Hauptman has prioritized right-sized regulations, innovation, and field-of-membership reforms to ensure credit unions can operate effectively and efficiently. We look forward to continuing to work with Chair Hauptman on critical issues to allow more Americans to experience the credit union difference."  Nussle released in a statement.  

Nussle also sent a letter Monday outlining issues credit unions hope to work on with the agency and said Hauptman’s new role—together with the new administration—is “an opportunity to reexamine and refine the regulatory landscape” to better serve credit unions and their members.

“We urge the new NCUA leadership to prioritize a pragmatic approach to regulation that balances the need for oversight with the operational realities faced by credit unions,” he added.

This includes rescinding recent NCUA call report changes requiring reporting of overdraft and non-sufficient funds (NSF) fees information, as well as recently released guidance on overdraft and NSF fees.

Nussle also encouraged the agency to:

• Reverse the trend of continual, excessive budgetary increases;
• Oppose broad granting of supervisory powers of third-party vendors; and 
• Allow credit unions to assess and manage climate-related financial risk; and 
• Adopt a rule first proposed in December 2020 that would add flexibility to requirements for a written overdraft policy.

The letter also provided America’s Credit Unions’ perspective on loan participations, low-income credit union status, occupancy, investment activities, corporate credit unions, supervisory committee audits, incidental powers, commercial lending, the Central Liquidity Facility, advertising, cyber reporting, records preservation, and promulgation of new rules and regulations.