Markets Wired

For Immediate Release

March 9, 2016

The Federal Financial Institutions Examination Council (Council) announced today the appointment of Tennessee Commissioner Greg Gonzales to the Council’s State Liaison Committee. Gonzales’s SLC nomination was confirmed by the Conference of State Bank Supervisors on Feb. 26, 2016, to complete a partial term vacancy created by the resignation of Lauren Kingry.  Gonzales’s term will continue through March 31, 2017.

Greg Gonzales is the 18th commissioner of the Tennessee Department of Financial Institutions.  He began serving in this role in 2005 and was reappointed by Governor Bill Haslam. He has served in the department since 1986. In this position, Gonzales serves as Tennessee’s chief regulatory officer of all state-chartered depository and licensed non-depository financial institutions.  Additionally, he has served as assistant commissioner and general counsel for the department.

Gonzales is a past Chairman of CSBS, served as a member of the Board of Directors of the Money Transmitter Regulators Association, and served on the U.S. Treasury’s Bank Secrecy Act Advisory Group. Commissioner Gonzales currently serves on both the Board of Directors of the Tennessee Financial Literacy Commission and a national task force studying how new technologies are affecting the U.S. payment systems.

Gonzales joins the current four members of the SLC who are:

• SLC Chairman David Cotney, Commissioner of Banks for the Commonwealth of Massachusetts, confirmed by the Council;
• Mary Hughes, Financial Institutions Bureau Chief of the Idaho Department of Finance, appointed by the National Association of State Credit Union Supervisors (NASCUS);
• Caroline Jones, Commissioner of the Texas Department of Savings and Mortgage Lending, appointed by the American Council of State Savings Supervisors (ACSSS); and
• Karen Lawson, Director, Office of Banking within the Michigan Department of Insurance and Financial Services, confirmed by the Council.

The FFIEC was created by the Federal Financial Institutions Regulatory and Interest Rate Control Act of 1978 to prescribe uniform principles, standards and report forms for the federal examination of financial institutions, and to make recommendations to promote uniformity in the supervision of financial institutions. It also conducts schools for examiners employed by the five federal member agencies represented on the FFIEC and makes those schools available to employees of state agencies that supervise financial institutions.

The FFIEC currently consists of the following six voting members: the Comptroller of the Currency, Office of Comptroller of the Currency; a member of the Board of Governors of the Federal Reserve System (Board), appointed by the Chairman of the Board; Chairman of the Federal Deposit Insurance Corporation; Director of the Consumer Financial Protection Bureau; Chairman of the National Credit Union Administration; and the Chairman of the SLC.

The SLC consists of five representatives of state banking agencies that supervise financial institutions and members are designated from the CSBS, ACSSS, NASCUS, and the Council.

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