Tom Cotton July 21, 2020: Senator Cotton Q&A at Senate Banking Committee
On the one hand, kyle will be a terrible loss to my office and the work that we’ve done on behalf of our kansas and all americans over the last three years. But on the other hand, our loss will be uh, the ncua’s gains and the gains of everyone who does business with that was affected by credit unions uh in their communities and i’m. Very confident that our credit unions will benefit by having kyle’s judgment and knowledge on the board. I’D say i know my staff is sad to be losing kyle this year as well here’s an email from my deputy state director, who leads all of our case work earlier. This year, when she heard the news that kyla bend nominated the subject line, is you can’t go exclamation point and then in the body i won’t? Have it triple exclamation point seriously? We are going to miss you. The whole state staff is bummed, because no one can ever take your place at keeping us informed, which i think is a testament to how well kyle has worked, not just with my staff but with all of your staffs and with the committee staff as well. Likewise, i’d like to enter into the record mr chairman letter from the head of the arkansas credit union association. I will also quote from that letter here on behalf of the arkansas credit union association.
I’Ll say that we probably feel the same way you do that he’ll be difficult to replace, yet the ncua is lucky to have him i’ve gone to washington for a couple decades now, on behalf of our credit unions, most of which are very small rural institutions, our Largest credit union has just over 1 billion in assets, which would be considered small even by community bank standards.
The rest are even smaller, where you can count on one hand: the number of atms they have while advocating for these community based lenders, i’ve encountered a lot of congressional staffers, maybe the best i’ve dealt with given the background at large international finance firms. You might think kyle wouldn’t understand the needs of our members, who are mostly low or moderate income families yet it’s, quite the opposite. He has gone above and beyond to listen, respond quickly and empathize with their concerns. His knowledge of financial markets is an asset, not a liability. I’M aware that the ncua board members aren’t, like senate staffers, meaning i’ll no longer be a constituent, but rather someone working for the institutions. Kyle will be regulating, but i think you’ll agree that he’ll continue to be fair, professional and serious about his work. Kyle is also indisputably bipartisan, working well with others. Like all the senators on this committee, i sometimes get in the occasional political scrap, but kyle nevertheless approaches his job like a diplomat, working with all of your staff working with the committee staff to keep dialogue open to keep the people’s business going forward.
He’S worked on innumerable bipartisan bills and letters, including on issues related to credit unions plus bills, on taxes, retirement policy, as well as other economic policies. He also serves as the staff director for the economic policy subcommittee, that i chair, leading the hearings that we’ve conducted during this congress and the hearing that we’ll be conducting tomorrow, which i encourage all senators to join us.
I often hear praise from constituents for kyle and the two most commoner frames are he’s easy to work with, and few staffers has to have his in depth, knowledge and experience in all matters financial. I trust this hearing will go well today, not just for kyle but miss pierce and mrs crenshaw, and i hope that we can move all three nominees forward properly, perhaps on simply a voice vote. So i will now close not with a question but simply to urge all of my fellow senators to support cal’s nomination.