WASHINGTON—The White House is weighing NCUA Chairman Kyle Hauptman as a potential nominee for chair of the Commodity Futures Trading Commission, according to a report circulating in Washington.
Journalist Eleanor Terrett posted on X that Hauptman and former CFTC Commissioner Jill Sommers are among those under consideration. Both are viewed as supportive of cryptocurrency, Terrett noted, adding their names surfaced after Bloomberg reported last week that the Administration had resumed vetting candidates while Brian Quintenz’s confirmation remains stalled.
A Capitol Hill source told CUToday.info that Hauptman’s inclusion should not be read as a signal the Trump Administration intends to fold the NCUA into another federal regulator. Instead, the source described the move as recognition of Hauptman’s strong pro-crypto record.
Hauptman currently serves as the sole member of the NCUA board, and his term formally ended in August. Former Democratic members Todd Harper and Tanya Otsuka—dismissed earlier this year—remain sidelined pending resolution of their lawsuit challenging their removal.
Washington credit union advocate John McKechnie acknowledged the shifting dynamics at the NCUA board this year.
“When it comes to the NCUA board, I feel like I’ve used the phrase ‘uncharted waters’ more in the last six months than at any other time in my life," McKechnie told CUToday.info. "The rumors about Chairman Hauptman being under consideration for another Administration post has engendered a lot of speculation, and I honestly don’t know what would happen if he were to depart NCUA without a successor in place. But one thing I do know for certain is that decisions about all of these matters pertaining to appointments are not made at NCUA or any other quarters of the credit union world. These are big issues, and they reside at 1600 Pennsylvania Avenue and, to a large extent, at the Supreme Court. My advice to all of us who are waiting with bated breath is that we have to be content watching from the grandstands.”
CUToday.info contacted NCUA, but the agency declined to comment.