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MEDIA RELEASE / January 3, 2007
Conference of State Bank Supervisors
1155 Connecticut
Avenue, NW, 5th Floor, Washington, DC 20036
Chuck Cross Joins Conference of State Bank Supervisors
WASHINGTON DC, January 3, 2007 – The Conference of State
Bank Supervisors (CSBS) announced today that Chuck Cross has joined CSBS
as Director of Special Projects, effective Jan. 1, 2007.
Cross will support the CSBS mortgage and non-depository regulatory
and education initiatives.
Cross comes to the position from the Washington Department of
Financial Institutions where he served as director for the
Department’s Division of Consumer Services. As Division
Director he supervised approximately 50 attorneys, examiners and
professional staff in the licensing, examination and enforcement of over
20,000 non-depository financial institutions and individuals including
mortgage companies, finance companies, payday lenders, check cashers and
sellers, money transmitters, currency exchangers, escrow companies and
refund anticipation loan facilitators.
In 2005 Cross was responsible for the implementation of regulations
for the payday lending industry, and in 2006 he guided the passing of
two agency bills covering the licensing of loan originators and the
criminal prosecution of mortgage fraud. Most recently Cross
piloted a team of regulatory and industry professionals in a negotiated
rule writing process for the mortgage industry in Washington.
Prior to his promotion to Director in 2003, Cross was the
Division’s Enforcement Chief where he was responsible for over 200
regulatory enforcement actions and criminal referrals in Washington
State. He was
one of the key investigators, architects and negotiators of the
multistate settlement with Household Finance and Beneficial Finance in
2002, which was the largest predatory lending case to date. From
late 2002 through 2005 he investigated Ameriquest Mortgage and served on
the multi-state Executive Committee for the country’s second
largest predatory lending case, which was filed and settled in March
2006.
Cross is a former federal and state bank examiner with 21 years
experience in the financial industry, and 18 of those years as a
regulator. From 1990 through 1993 he was the vice president and
general manager of a mortgage and escrow company. Cross is the
immediate past president for the American Association of Residential
Mortgage Regulators (AARMR), the past chair of the AARMR Mortgage Fraud
Committee, and has been a subject matter expert and instructor for the
National
White Collar Crime Center. He is a Certified
Fraud Examiner with a degree in Accounting/Economics.
“Chuck’s extensive experience in regulating
non-depository financial institutions as well as his background in
training examiners and law enforcement bring a new dimension to the CSBS
team,” said CSBS President and CEO Neil
Milner.
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About the Conference of State Bank Supervisors
The Conference of State Bank Supervisors is the nationwide
organization for state banking, representing the bank regulators of the
50 states, the District of Columbia,
Guam, Puerto Rico and the Virgin
Islands, and approximately 6,200 state-chartered financial
institutions. The Conference is responsible for defending state
authority to determine banking structure and the products and services
state-chartered institutions can offer and for improving the quality of
state bank supervision by providing department performance evaluation
and accreditation programs and supervisory education/training programs
for state banking department personnel. More information about the
Conference of State Bank Supervisors can be found at http://www.csbs.org
Media Contact: Mary White 202.728.5715 or mwhite@csbs.org
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