NASCUS Congratulates Commissioner Darryle Rude on His Retirement; Welcomes Shaun Berrett as Successor

FOR IMMEDIATE RELEASE
March 4, 2025

NASCUS Congratulates Commissioner Darryle Rude on His Retirement; Welcomes Shaun Berrett as Successor

ARLINGTON, VA – The National Association of State Credit Union Supervisors (NASCUS) congratulates Utah Department of Financial Institutions (DFI) Commissioner Darryle Rude on his retirement and welcomes Governor Spencer J. Cox’s appointment of Shaun Berrett as his successor, pending approval by the Utah State Senate.

Commissioner Rude’s tenure with DFI spans over three decades, beginning in 1989 when he joined as an examiner. Throughout his career, he has played an instrumental role in the oversight and supervision of Utah’s financial institutions, serving as Supervisor of Banks (1999-2002), Supervisor of Industrial Banks, and Chief Examiner before being appointed Commissioner in June 2022. His dedication and leadership have significantly contributed to the health and resiliency of the state’s financial system.

NASCUS President and CEO Brian Knight commended Rude’s service, stating, “Darryle’s exceptional contributions to Utah’s financial industry extend far beyond his years of service. His strategic leadership and steadfast commitment have strengthened the state-chartered financial system. We are deeply grateful for his guidance and friendship over the years.”

Rude’s extensive regulatory expertise was enhanced through partnerships with federal agencies, including the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Federal Reserve Bank, and the Federal Financial Institutions Examination Council (FFIEC). Additionally, his work with NASCUS and the Conference of State Bank Supervisors (CSBS) has given him a broad perspective on regulatory challenges and opportunities within the industry.

Governor Cox has selected Shaun Berrett to lead DFI into the future. With more than two decades of experience in bank supervision and regulatory oversight, Berrett is well-prepared to assume the role of Commissioner. NASCUS looks forward to working with Berrett as he continues DFI’s mission to maintain a safe and sound financial environment for the citizens of Utah.

NASCUS expresses its sincere appreciation to Commissioner Rude for his exemplary service and wishes him the best in his well-earned retirement.