NCUA Boardroom. Credit/NCUA
The administration still hasn't yet proposed who will replace NCUA Chair Kyle Hauptman, much less the two Democratic board members ousted by Trump early last year, but the NCUA did announce late Friday that Hauptman has accepted another governmental post.
Hauptman said he would remain chair of the NCUA until his successor was in place.
NCUA Chair Kyle Hauptman announced late Friday that he had accepted an appointment to the Public Company Accounting Oversight Board (PCAOB), a watchdog that Congress created in 2002 in the wake the collapse of Enron to protect against accounting fraud and audit failure.
Last spring Republicans in Congress proposed eliminating the board and shifting its responsibilities to the SEC.
The board consists of five members serving staggered five-year terms. They are appointed by the Securities and Exchange Commission, after consultation with the Chair of the Board of Governors of the Federal Reserve System and the Secretary of the Treasury.
"I am grateful to President Donald J. Trump and (SEC) Chairman Paul S. Atkins for their faith in me and for the appointment to the PCAOB," Chairman Hauptman said. "I intend to remain in my role as NCUA Chairman until my successor is appointed by President Trump and confirmed by the U.S. Senate."
Hauptman's term on the NCUA expired last year, but the White House has not proposed a replacement, which must be confirmed by the Senate.
America's Credit Unions President/CEO Scott Simpson said Monday he believes the White House is vetting candidates to replace Hauptman. "There are announcements that are coming," he said.
Jason Stverak, chief advocacy officer for the Defense Credit Union Council, said Monday he was pleased that Hauptman would remain NCUA chair until the Senate confirms his replacement. "It helps ensure there is a board member there who can make the important decisions the NCUA may or may not have come up in front of it."
In the meantime, Stverak said Hauptman can serve on both boards.
"I think we've seen in this administration and others [that] people can do two jobs at once," Stverak said. "We have an incredible team at the NCUA that can help lighten the load, if needs be, to ensure the chairman is available to make the decisions that are needed."
U.S. District Court Judge Amir H. Ali in Washington, D.C., ruled in July that Trump acted unlawfully when he removed NCUA Board Members Todd Harper and Tanya Otsuka in early 2025. He found that Congress intended to protect NCUA Board members from at-will removal when it restructured the agency in 1978.
The case has been paused by the U.S. Court of Appeals as the Supreme Court weighs the outcome of a similar case that is expected to be decided in the coming months.
Contact Jim DuPlessis at Jim.DuPlessis@arc-network.com.
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