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NCUA Chairman Kyle Hauptman joined top federal financial regulators Wednesday at a meeting of the Financial Stability Oversight Council (FSOC), chaired by Treasury Secretary Scott Bessent. The session highlighted priorities for the upcoming fiscal year, including economic growth, security and potential revisions to the Council’s analytic framework for identifying risks to financial stability.
In an executive session, according to the readout of the meeting, FSOC members discussed updates on the Council’s fiscal 2026 budget, preparation of its annual report and outcomes from a recent Treasury-led tabletop exercise on crisis preparedness. Members explored ways to strengthen resilience across critical market infrastructure, a concern that has grown following disruptions in global financial markets.
Hauptman, representing the credit union system at the interagency table, joined colleagues including Federal Reserve Chair Jerome Powell, SEC Chairman Paul Atkins, and FDIC Acting Chairman Travis Hill in reviewing supervisory and regulatory reforms under way at the federal banking agencies.
During the open session, Secretary Bessent emphasized the importance of balancing financial stability with economic growth and national security, while regulators outlined steps being taken to streamline oversight. The Council also approved its fiscal year 2026 budget of $10.1 million and voted to rescind the charters of its climate-related financial risk committees.
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