Nebraska's Munn Reelected Chairman of FFIEC State Liaison Committee, Cotney Also Reappointed to SLC
May 1, 2012 - The Federal Financial Institutions Examination Council (FFIEC) announced that John Munn, Director of the Nebraska Department of Banking and Finance, will continue service as Chairman of the FFIEC State Liaison Committee (SLC). Massachusetts Division of Banks Commissioner David Cotney was also reappointed to the SLC.
Munn's new term as SLC Chairman will continue until April 30, 2013. Cotney’s SLC nomination was first confirmed in October 2010 to complete a partial term vacancy created by the resignation of Sarah Bloom Raskin, upon her appointment to the Board of Governors of the Federal Reserve System. His first full term will continue through April 30, 2014.
The FFIEC State Liaison Committee is comprised of five state regulators including a NASCUS representative. Currently Harold Feeney, commissioner of the Texas Credit Union Department, is the SLC representative for NASCUS for a term through March 31, 2013. Charles Vice, Commissioner, Kentucky Department of Financial Institutions, and Doug Foster, Commissioner, Texas Department of Savings and Mortgage Lending, comprise the remaining seats on the SLC.
On April 1, 2011, National Credit Union Administration (NCUA) Chairman Debbie Matz began a two-year chairmanship of FFIEC. In 2006, Congress made the SLC Chairman a voting member of the FFIEC. The FFIEC is comprised of the heads of NCUA, the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the FDIC and the Office of Thrift Supervision. It was established to make recommendations to promote uniformity in the supervision of financial institutions.
To read more about FFIEC, follow this link.