Federal Financial Institutions Examination Council
|For Immediate Release||May 30, 2000|
The State Liaison Committee of the Federal Financial Institutions Examination Council has re-elected G. Edward Leary as its Chairman for the term beginning May 1, 2000 and expiring April 30, 200l. Mr. Leary is the Commissioner of the Department of Financial Institutions for the state of Utah with supervisory responsibility over banks, credit unions, industrial loan corporations, savings & loans, trust companies, depository institution holding companies, money transmitters, loan production offices, independent escrow agents, residential mortgage lenders, brokers and servicers. The Department regulates and licenses over 143 financial institutions with assets above $43.7 billion and supervises over l,900 mortgage lenders and brokers.
The Committee was established by the Council pursuant to Section 1007 of the Financial Institutions Regulatory and Interest Rate Control Act of l978 to encourage the application of uniform examination principles and standards by state and federal agencies, and to allow state regulators to participate in the development of those principles and standards. In addition to Mr. Leary, the members of the Committee are: Nicholas J. Ketcha Jr., Director of the Division of Banking in the New Jersey Department of Banking and Insurance; James E. Forney, Iowa Superintendent of Credit Unions; Steven D. Bridges, Commissioner of the Department of Banking and Finance for the State of Georgia; and James L. Pledger, Texas Savings and Loan Commissioner.
Mr. Leary has served as Commissioner of the Department of Financial Institutions since June, 1992. He began his career with the Department in 1977 as an examiner, holding subsequent positions as an industry supervisor and chief examiner, and former Chairman of the Conference of State Bank Supervisors. Under Mr. Leary's guidance, the Department has successfully reduced regulatory burden and modernized financial institution regulations.