Hauptman wants to promote growth, opportunity, innovation in credit union system

Newly-appointed NCUA Chairman Kyle Hauptman released a list of his priorities Wednesday, two days after President Donald Trump named him the agency’s 13th chairman.

“I look forward to leading the agency’s dedicated professionals and working with my Board colleagues to create a regulatory structure that promotes growth, opportunity, and innovation within the credit union system,” Hauptman said in a statement.

Hauptman’s priorities as chairman include:

  • Re-examining the current NCUA budgeting process;
  • Convening groups of NCUA employees to identify achievable internal efficiencies to reduce unnecessary friction in the agency’s operations;
  • Promoting the appropriate use of artificial intelligence;
  • Focusing on true financial inclusion, including removing barriers to de novo credit unions and removing the pain points leading to that lead to fewer credit unions, especially small credit unions;
  • Codifying procedures to protect Americans from regulation by enforcement;
  • Making clear that credit unions and their members are best positioned to assess their communities’ climate risks;
  • Re-assessing NCUA policies that may, even inadvertently, dissuade credit unions from serving low-income areas, including language around overdraft policies; and 
  • Right-sizing credit unions’ obligations where possible under the Bank Secrecy Act, including NCUA’s regulations surrounding Suspicious Activity Reports.

America’s Credit Unions shared a list of priorities to work on with the NCUA the same day Hauptman was appointed chairman. 

heelo