In an unusual development, two positions on federal regulatory panels will be held by the current board chairman of the credit union regulator, he announced late Friday.
National Credit Union Administration (NCUA) Board Chairman Kyle Hauptman, in a statement, thanked President Donald Trump (R) for appointing him to the five-member Public Company Accounting Oversight Board (PCAOB), an obscure arm of the Securities and Exchange Commission (SEC).
“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 said in a curt statement.
Hauptman’s simultaneous service on two regulator boards is a first for the credit union agency. Typically, the three members of the NCUA Board serve only on the credit union regulator’s panel.
Hauptman’s term on the NCUA Board expired in August 2025; he has been serving in a holdover capacity, but he cannot succeed himself. His term at PCAOB will reportedly run until October 2029.
Although the credit union regulator’s board has three positions, Trump in 2025 “fired” two of the board members, both Democratic nominees (Hauptman was a Republican nominee). That left Hauptman as the sole board member. The two Democratic nominees have challenged the president’s action in court.
According to press reports, members of the PCAOB are paid up to $323,000 a year The NCUA Board chairman reportedly earns up to $195,000 a year.
PCAOB was established by Congress in 2002 to oversee audits of public companies and SEC-registered brokers/dealers. It registers firms, sets audit standards and conducts inspections and investigations. All PCAOB rules, standards, and budget are subject to approval by the SEC.
If it finds violations of auditing standards, the board may discipline registered firms and individuals.
The PCAOB consists of five members, all appointed by the SEC. Two members must be certified public accountants (CPAs); Hauptman is not a CPA.
Chairman Hauptman’s Statement on Appointment to PCAOB
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