The Senate Banking Committee on Tuesday recommended that the full Senate confirm Kyle Hauptman as a member of the NCUA board.
If confirmed by the Senate, Hauptman, a Republican, would replace J. Mark McWatters, also a Republican.
Congress is deadlocked over economic help for people impacted by the coronavirus crisis, so federal financial regulators and a key senator are urging financial institutions to do what Congress has not been able to do.
The National Credit Union Administration board on Thursday approved a final Field of Membership rule that had been delayed as a result of a lawsuit filed by the American Bankers Association.
The board unanimously agreed to allow a credit union to file an application to designate a Combined Statistical Area, or a contiguous portion of it, as a well-defined local community. To qualify, that area would be required to have a population of under 2.5 million people.
Eugene Schied has been named chief financial officer of the National Credit Union Administration. Schied succeeds Rendell Jones, who was named the agency’s executive director earlier this year. “Eugene has nearly 20 years of senior financial and budget experience in the federal government,” NCUA Chairman Rodney Hood said. “He brings a wealth of experience and leadership to the position.” Schied previously served as the NCUA’s acting CFO and as the deputy chief CFO. Before joining the NCUA in March 2017 Schied held executive positions at several federal agencies; those positions include serving as the assistant director of administration at the
With two nominations to the Securities and Exchange Commission garnering the most attention, National Credit Union Administration board nominee Kyle Hauptman faced little questioning during his confirmation hearing Tuesday before the Senate Banking Committee.
The only pointed criticism came from committee ranking Democrat Sherrod Brown of Ohio, who questioned Hauptman’s qualifications and experience.
Citing the coronavirus crisis, National Credit Union Administration Chairman Rodney Hood said Wednesday that the agency will delay implementation of its new user portal and examination tool until the second half of 2021.
The National Credit Union Administration has exhausted all available funds for coronavirus crisis urgent needs grants and no new applications will be accepted, agency officials announced Wednesday.
The Senate Banking Committee on July 21 will hold a confirmation hearing for Kyle Hauptman, President Trump’s choice to replace J. Mark McWatters on the National Credit Union Administration board.
In light of last week’s U.S. Supreme Court decision, the National Credit Union Administration said Tuesday it will reinstate the rural districts for 18 credit unions that had been removed as federal courts evaluated the agency’s Field of Membership rule.
As the NCUA board is preparing to adopt a revised Field of Membership rule following a recent U.S. Supreme Court decision, credit union trade groups are asking agency officials to give credit unions greater freedom to expand.