NCUA chairman shares right-sizing efforts with Senators

February 27, 2026

NCUA’s work to empower credit unions and foster innovation was the focus for Chairman Kyle Hauptman’s testimony before the Senate Banking Committee Thursday, while committee members expressed support for credit union priorities during the hearing. 

The hearing included testimony from several regulators. In his remarks, Hauptman said the agency is working to “right-size our approach to safety and soundness,” which includes the Deregulation Project and strategic plan to guide agency priorities through 2030. 

“Our strategic plan will focus on safety and soundness, protecting the Share Insurance Fund from undue risk, and creating space for credit unions to innovate responsibly, especially in leveraging artificial intelligence and cryptocurrencies,” he said. 

Hauptman reiterated that even though he is nominated to the Securities and Exchange Commission’s Public Company Accounting Oversight Board, he will remain with the NCUA until the Senate confirms his successor. 

During the hearing, Sen. Lisa Blunt Rochester, D-Del., shared the importance of her bipartisan Credit Union Board Modernization Act (S. 522). The bill would update federal credit union board meeting requirements, and currently has 58 Senate co-sponsors. Its companion bill passed the House by voice vote in February 2025. 

“I know this is one of credit unions’ top priorities, and since they do a lot for our communities as well as our small businesses, I’m glad to see it has a lot of bipartisan support, and we hope to see it pass the Senate as well,” she said. 

In advance of the committee hearing, America’s Credit Unions sent a letter outlining additional ways the NCUA could provide targeted relief for credit unions.