The Federal Financial Institutions Examination Council’s (FFIEC) State Liaison Committee (SLC) today announced the election of Greg Gonzales as its Chairman. The SLC Chairman’s term is a one-year period that begins May 1 and runs until April 30 of the following year. The SLC can re-elect the chairman for additional terms.
Gonzales is the 18th commissioner of the Tennessee Department of Financial Institutions. He began serving in this role in 2005 and was reappointed by Governor Bill Haslam. He has served in the department since 1986. As commissioner, Gonzales serves as Tennessee’s chief regulatory officer of all state-chartered depository and licensed non-depository financial institutions. Additionally, he has served as assistant commissioner and general counsel for the department. Gonzales is a past Chairman of the Conference of State Bank Supervisors (CSBS), and currently serves on both the Board of Directors of the Tennessee Financial Literacy Commission and a national task force studying how new technologies are affecting the U.S. payment systems. Gonzales has also served on the Board of the Money Transmitter Regulators Association (MTRA) and U.S. Treasury’s Bank Secrecy Act Advisory Group.
Commissioner Gonzales was born in Cookeville, Tennessee, and graduated cum laude in cursu honorum with a bachelor’s degree from Tennessee Technological University in 1980. Gonzales served as a research assistant in 1980 to Sir Patrick Cormack, a Conservative Party member of the British Parliament, and earned a law degree from the University of Tennessee in 1984.
Greg Gonzales has been active on the SLC since February 2016, when he was first confirmed by the CSBS to complete a partial term vacancy created by the resignation of Lauren Kingry. On April 1, 2017, Gonzales was reappointed to serve his first two-year term which runs through March 31, 2019.
Additional members that currently make up the five-member SLC also include:
- Edward Joseph Face, Commissioner of Financial Institutions for the Virginia State Corporation Commission’s Bureau of Financial Institutions, confirmed by the Council;
- Mary Hughes, Financial Institutions Bureau Chief of the Idaho Department of Finance, appointed by the National Association of State Credit Union Supervisors (NASCUS);
- Caroline Jones, Commissioner of the Texas Department of Savings and Mortgage Lending, appointed by the American Council of State Savings Supervisors (ACSSS); and
- Judi Stork, Deputy Bank Commissioner, Kansas Office of the State Bank Commissioner, confirmed by the Council.
The FFIEC was created by the Federal Financial Institutions Regulatory and Interest Rate Control Act of 1978 to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions, and to 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 and makes those schools available to employees of state agencies that supervise financial institutions.
The FFIEC currently consists of the following six voting members: a member of the Board of Governors of the Federal Reserve System; the Chairman of the Federal Deposit Insurance Corporation; the Director of the Consumer Financial Protection Bureau; the Comptroller of the Currency; the Chairman of the National Credit Union Administration; and the Chairman of the SLC.
The SLC consists of five representatives of state banking and credit union agencies that supervise financial institutions. Members are designated by the CSBS, ACSSS, NASCUS, and the FFIEC. An SLC member may have his or her two-year term extended by the appointing organization for an additional, two-year term.