On May 1, the Federal Financial Institutions Examination Council (FFIEC) announced the selection of Texas Banking Commissioner Charles G. Cooper to its State Liaison Committee (SLC) for a two-year term. The SLC also announced that Cooper has been elected chair of the committee for a one-year term.
Cooper has served as Texas’ banking commissioner since 2008, responsible for the chartering, regulation, supervision and examination of 214 Texas state-chartered banks, which have aggregate assets of approximately $426.6 billion. In addition, the department supervises trust companies, foreign bank agencies and branches, prepaid funeral licensees, money service businesses and perpetual-care cemeteries.
Cooper has served in various positions with the Conference of State Bank Supervisors (CSBS), including as chairman in 2016 and currently as chairman emeritus. He also serves as the state banking representative on the Financial Banking Information Infrastructure Committee and previously served on the Financial Stability Oversight Council.
The SLC consists of five representatives of state banking and credit union agencies that supervise financial institutions. Members are designated by the CSBS, American Council of State Savings Supervisors (ACSSS), National Association of State Credit Union Supervisors (NASCUS) and FFIEC. An SLC member may have his or her two-year term extended by the appointing organization for an additional, two-year term. In addition to Cooper, the committee is comprised of:
- Kevin Allard, superintendent, Ohio Division of Financial Institutions, designated by ACSSS;
- Yolanda Ford, deputy superintendent/community and regional banks unit, New York State Department of Financial Services, designated by NASCUS;
- Melanie Hall, commissioner, Montana Division of Banking and Financial Institutions, selected by the FFIEC; and
- Susannah Marshall, commissioner, Arkansas Bank Department, designated by the CSBS.
The FFIEC was created by the Financial Institutions Regulatory and Interest Rate Control Act of 1978 to prescribe uniform principles and standards for the federal examination of financial institutions and 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. It makes those schools available to employees of state agencies that supervise financial institutions.
The FFIEC is comprised of the following six voting members:
- A member of the Board of Governors of the Federal Reserve System;
- Chair of the Federal Deposit Insurance Corp.;
- Director of the Consumer Financial Protection Bureau;
- Comptroller of the Currency;
- Chair of the National Credit Union Administration; and
- Chairman of the SLC.