The top financial institution regulator for the state of Tennessee will serve again as the chairman of the group of state regulators who provide input to the Federal Financial Institutions Examination Council (FFIEC) on state issues, the group said Tuesday.
Greg Gonzales, commissioner of the Tennessee Department of Financial Institutions was reelected chairman of the State Liaison Council for the FFIEC; his term runs for one year (from May 1 to April 30 of next year). As chairman, Gonzales also sits on the FFIEC.
Separately, the FFIEC said Tuesday that Edward “Joe” Face, commissioner of financial institutions for the Virginia State Corporation Commission’s Bureau of Financial Institutions, was reappointed to a two-year term as a member of the SLC.
The SLC is made up of five members, each representing state regulators that supervise financial institutions. The five members are designated to the council by individual groups of regulator professional organizations, or confirmed by the FFIEC itself. Gonzales is appointed by the Conference of State Bank Supervisors (CSBS); Face is confirmed to the position by the FFIEC.
The additional members of the SLC are: Tom Fite, Director, Indiana Department of Financial Institutions, (confirmed by the FFIEC); Mary Hughes, Financial Institutions Bureau Chief of the Idaho Department of Finance, (appointed by the National Association of State Credit Union Supervisors (NASCUS)); and Caroline Jones, Commissioner of the Texas Department of Savings and Mortgage Lending, (appointed by the American Council of State Savings Supervisors (ACSSS)).
The FFIEC was created by in law in 1978 to prescribe uniform principles for federal examination of financial institutions; it also conducts schools for examiners employed by the five federal member agencies represented on the FFIEC, and for state examiners. The five members are the Federal Reserve; the Federal Deposit Insurance Corp. (FDIC); the Consumer Financial Protection Bureau; the Office of the Comptroller of the Currency (OCC); the National Credit Union Administration (NCUA); and the SLC.
Gonzales Elected as State Liaison Committee Chairman