Nomination of Kyle Hauptman (Cong. Rec., Dec. 1, 2020)
Summary
Congressional Record, Senate, December 1, 2020, page S7124 and following. The page closes a roll call, with the Presiding Officer stating that the yeas are 56 and the nays are 37 and that the motion is agreed to. The clerk reads the nomination of Kyle Hauptman, of Maine, to be a Member of the National Credit Union Administration Board for a term expiring August 2, 2025. Under the heading NOMINATION OF KYLE HAUPTMAN, Mr. COTTON says that the Senate has just voted to conclude debate and speaks about the nominee's work, including on credit unions and the CARES Act.
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“Nomination of Kyle Hauptman (Cong. Rec., Dec. 1, 2020).”
Original at www.govinfo.gov. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/crec-crec-2020-12-01-crec-2020-12-01-pt1-pgs7124-2-579c0764dc/
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S7124 CONGRESSIONAL RECORD — SENATE December 1, 2020
NAYS—37 excellent use as my top aide. He has for the institutions Kyle will be regulating.
Baldwin Feinstein Peters provided invaluable counsel and shep- But I think you’ll agree that he’ll continue
Bennet Gillibrand Reed herded legislation through Congress on to be fair, professional and serious about his
Blumenthal Heinrich Rosen work.
Booker Hirono
topics as wide-ranging as money laun-
Schumer I can tell you I very much do agree
Brown Kaine Smith dering, consumer fraud, and blockchain
Cantwell Klobuchar Stabenow technology. In fact, I have high hopes with every word of that letter and
Cardin Leahy Tester that an anti-money laundering bill on similar letters we have received about
Carper Manchin Udall Kyle and his work on behalf of Arkan-
Casey Markey which Kyle and I worked for months,
Van Hollen sans.
Coons Menendez
Warren
the ILLICIT CASH Act, will pass this
Cortez Masto Merkley Congress before the year is through. Washington can sometimes be a con-
Wyden
Duckworth Murphy
That is not all Kyle has accom- fusing place, so Kyle’s assistance keep-
Durbin Murray
plished. As a top committee aide, he ing Arkansans in the loop has been a
NOT VOTING—7 has worked diligently to plan hearings great blessing to many of the people we
Harris McSally Whitehouse and broker compromises with other serve. I remember the countless emails
Inhofe Sanders from small business owners praising
Loeffler Schatz
Senators’ staff. As anyone who knows
Kyle can attest, he is a friendly and Kyle for his help in understanding and
The PRESIDING OFFICER. On this fast-talking guy, always ready with a receiving assistance through the
vote, the yeas are 56, the nays are 37. joke and a smile, and his congeniality CARES Act in March, April, and May,
The motion is agreed to. has helped smooth over many partisan at the height of the danger and the un-
f spats so that the business of the Amer- certainty about the coronavirus pan-
EXECUTIVE CALENDAR ican people can move forward. demic.
As important, Kyle has served as a That was all Kyle, and I am confident
The PRESIDING OFFICER. The valuable liaison between me and credit he will bring the same customer serv-
clerk will report the nomination. unions in Arkansas and the sur- ice mentality to his work at the NCUA.
The legislative clerk read the nomi- rounding States. Though most credit That is because Kyle, like the credit
nation of Kyle Hauptman, of Maine, to unions in Arkansas are very small, unions he will regulate, is driven by a
be a Member of the National Credit with maybe millions of dollars under sense of mission: to help his fellow
Union Administration Board for a term management—not billions of dollars— Americans achieve their financial
expiring August 2, 2025. what our credit unions lack in size goals and the American dream. That
The PRESIDING OFFICER. The Sen- dream is based on freedom.
they make up for in their mission.
ator from Arkansas. Alongside his hero, the great apostle
They exist not for profit but to serve
NOMINATION OF KYLE HAUPTMAN
their members by keeping their money of opportunity, Jack Kemp, Kyle
Mr. COTTON. Madam President, the safe and providing credit at reasonable knows ‘‘there are no limits to what
Senate has just voted to conclude de- rates of return. free men and women and free enter-
bate on the nomination of Kyle So while our credit unions may not prise in a free society can accomplish
Hauptman to be on the Board of the always manage vast fortunes, they do when [men and women] are free to fol-
National Credit Union Administration, manage vast dreams. They safeguard low their dream.’’
and we will soon vote to confirm Mr. the savings and extend opportunity to Credit unions allow millions of
Hauptman to the administration. a customer base in Arkansas that looks Americans to follow their dreams. So
This is a very happy moment, of an awful lot like the rest of America— while I am sad to say farewell to Kyle
course, for Kyle and his family and the senior citizens who have used the same as a trusted aide, I will take consola-
country. For me, I have to confess it is banks for decades, for instance, or tion in the fact that he is going to
something of a bittersweet moment. young families building a foundation serve our fellow Americans in the
That is because Kyle is not only a for a better life. cause of freedom, and I know that he
nominee to a Federal Board. Mind you, Kyle is very well acquainted with will serve them well. Thank you, Kyle,
he is my trusted economic adviser; he these credit unions from his work for and Godspeed.
is the staff director for me on the Eco- me in the Banking Committee, but you I yield the floor.
nomic Policy Subcommittee of the don’t have to take my word for it. Just I suggest the absence of a quorum.
Senate Banking Committee; and he is a listen to the Arkansas Credit Union The PRESIDING OFFICER. The
good friend. Association, which submitted a letter clerk will call the roll.
So while I voted to confirm Kyle with in support of Kyle’s nomination. I will The legislative clerk proceeded to
enthusiasm, my enthusiasm is mixed quote from it here at length. This is call the roll.
with sadness to see a close and trusted from the group’s executive director: Mr. TOOMEY. Madam President, I
aide go. But my loss will be America’s On behalf of the Arkansas Credit Union As- ask unanimous consent that the order
gain. The NCUA, American taxpayers, sociation, I’ll say that we probably feel the for the quorum call be rescinded.
and millions of people who rely on same way you do—that he’ll be difficult to The PRESIDING OFFICER. Without
credit unions will be well served by replace yet the NCUA is lucky to have him. objection, it is so ordered.
Kyle, who brings to the job a collegial I’ve gone to Washington for a couple dec- CARES ACT FUNDING
ades now on behalf of Arkansas credit
spirit and rare knowledge of financial Mr. TOOMEY. Madam President, I
unions, most of which are very small, rural
markets. institutions. Our largest credit union has rise this afternoon because while we
Kyle’s expertise comes from years of just over $1 billion in assets, which would be were away for our Thanksgiving break,
work for the bipartisan SEC Advisory considered small even by community-bank there were some very important devel-
Committee and on Wall Street itself, standards. The rest are much smaller, where opments on an important piece of leg-
where he focused on the very same you can count on one hand the number of islation that we passed earlier this
money markets where credit unions ob- ATMs they have. While advocating for these year, the CARES Act. Specifically,
tain their financing. Lest anyone think community-based lenders, I’ve encountered a what I am referring to is the decision
lot of Congressional staffers. Kyle is the best
that Kyle doesn’t understand what that was made by the Treasury Sec-
I’ve dealt with.
struggling American families can face, Given his background at large, inter- retary, Secretary Mnuchin, to not ex-
as an analyst on the Asia desk at Leh- national finance firms, you might think Kyle tend the 13(3) lending facilities that we
man Brothers, Kyle lost his job and his wouldn’t understand the needs of our mem- dramatically expanded in the CARES
savings during the financial crisis, bers, who are mostly low- or moderate-in- Act.
which means he has a deep and gut- come families. Yet it’s quite the opposite: he By way of reminder, let me summa-
dlhill on DSK120RN23PROD with SENATE
level understanding about how deci- has gone above and beyond to listen, respond rize these facilities. When the economy
sions made by bankers and bureaucrats quickly and empathize with our concerns. first began to close down back in
His knowledge of financial markets is an
at the top can have serious con- asset, not a liability.
March-April, one of the things that
sequences for everyone else. I’m aware that NCUA board members started to happen was a collapse of our
Kyle has put this knowledge of the aren’t like Senate staffers; I’ll no longer be credit markets. I will get into that in
banking system and its implications to a constituent but rather someone working a little bit.
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