July 2023
NCUA Vice Chairman Kyle S. Hauptman Statement on Final Rule – Member Expulsion
NCUA Vice Chairman Kyle S. Hauptman speaks at a meeting of the NCUA Board.
As Prepared for Delivery on July 20, 2023
Thank you, Rachel for your presentation.
This final rule touches on the core of what makes credit unions unique. As financial cooperatives, credit unions do not have customers; they have member-owners. This is not about dealing with a disruptive customer. This is about expelling an owner of the cooperative. This rule considers the significance of member-owners, but it also gives credit unions the same flexibility as any other business to address threats to the safety of staff and the public.
This concludes my remarks. Thank you, Mr. Chairman.
Latest News
Four federal financial institution regulatory agencies today requested comment on a proposal to…
1 min read
NCUA Vice Chairman Kyle S. Hauptman issued the following statement on his opposition to Section 956…
3 min read
NCUA Board Member Tanya F. Otsuka expressed her support for NCUA's revised succession plan…
4 min read
NCUA Board Member Otsuka issued the following statement in support of maintaining the federal…
3 min read