Colorado to begin search
for successor to Myklebust

JUNE 26, 2015 -- When the state of Colorado begins looking next month for a new state commissioner of financial services to replace Chris Myklebust, it will be looking for someone who can take up regulation of state credit unions, savings and loan associations and life care institutions for the first time since 2006.

On Wednesday (June 24), Colorado Department of Regulatory Agencies (DORA) Executive Director
Joe Neguse announced that he appointed Myklebust Colorado’s State Bank Commissioner, effective July 8, 2015. Myklebust is a former secretary/treasurer of NASCUS’ National Institute of State Credit Union Examination (NISCUE).

As state bank commissioner, Myklebust will oversee the Division of Banking at DORA, which regulates the business of state chartered and/or licensed financial institutions, including state commercial banks, money transmitters and trust companies.

In a statement, Myklebust said he would continue the approach he took in overseeing state credit unions to supervising state banks. “As Commissioner of Financial Services, I have worked to build public trust through a sensible approach to regulation and by consistently pursuing excellence in our delivery of services to our stakeholders,” he said. “I plan to continue this approach as State Bank Commissioner.”

The DORA said it would initiate the search for a new supervisor of credit unions in the state in July.

 

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