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Lawson Elected as FFIEC State Liaison Committee Chairman
Tuesday, May 10, 2016 6:45 AM

The Federal Financial Institutions Examination Council’s (FFIEC) State Liaison Committee (SLC) has announced the election of Karen Lawson as its chairman. The SLC chairman’s term is a one-year period that begins May 1 and runs until April 30 of the following year. The SLC can re-elect the chairman for additional terms.

Lawson is the director of the Office of Banking for the Michigan Department of Insurance and Financial Services. The office is responsible for the supervision, regulation, and examination of state-chartered banks, savings banks, trust banks, and business and industrial development companies. In addition to these entities, Department of Insurance and Financial Services regulates credit unions, insurance companies and agents, and various consumer finance licensees and registrants.

The five-person SLC membership also includes:

  • Edward “Joe” Face, Commissioner of Financial Institutions for the Virginia State Corporation Commission’s Bureau of Financial Institutions, confirmed by the Council;
  • Greg Gonzales, Commissioner, Tennessee Department of Financial Institutions, appointed by the CSBS;
  • 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 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.

Learn more at the NCUA Newsroom.