The Federal Financial Institutions Examination Council (FFIEC) has recently announced the appointment of Greg Gonzales to its State Liaison Committee (SLC). Gonzales, who will serve on the committee from May 1, 2024, to April 30, 2026, brings a wealth of experience from his long tenure as the Commissioner of the Tennessee Department of Financial Institutions, a role he has held since 2005. In his capacity as Commissioner, Gonzales oversees all state-chartered depository and licensed non-depository financial institutions in Tennessee.
Gonzales’s career also includes significant leadership and advisory roles. He has been a past Chairman of the Conference of State Bank Supervisors (CSBS) and a member of the Board of Directors of the Money Transmitter Regulators Association (MTRA). His experience extends to serving on the U.S. Treasury’s Bank Secrecy Act Advisory Group, and he is currently on the Board of Directors of both the Tennessee Financial Literacy Commission and the Tennessee Collateral Pool Board.
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This is not Gonzales’s first term on the SLC, as he previously contributed as the CSBS-designated member from 2016 to 2021 and held the position of SLC Chair from 2017 to 2021. The SLC itself is comprised of five members, including Gonzales. Other members include SLC Chair Charles G. Cooper from the Texas Department of Banking, Kevin Allard of the Ohio Division of Financial Institutions, Yolanda Ford of the New York State Department of Financial Services, and Susannah Marshall of the Arkansas Bank Department, representing various state supervisory agencies.
The FFIEC, established by the Financial Institutions Regulatory and Interest Rate Control Act of 1978, aims to standardize the principles and standards for examining financial institutions and to endorse uniformity in their supervision. It also provides training for examiners from both federal agencies and state agencies overseeing financial institutions. The Council includes six voting members from major federal financial regulatory bodies and the SLC Chair.
The SLC, where Gonzales will now serve, plays a crucial role in representing state banking and credit union supervisory interests within the FFIEC, ensuring a collaborative approach to the oversight of financial institutions across the United States. Members of the SLC are selected by various organizations, including the CSBS, the American Council of State Savings Supervisors (ACSSS), the National Association of State Credit Union Supervisors (NASCUS), and the FFIEC, and can have their two-year terms extended for an additional two years.
For more information, contact Alica Owen at alica.owen@tn.gov.
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Tennessee Announces New Interest Rate for 2024
Tennessee’s Department of Financial Institutions, under Commissioner Greg Gonzales, sets a new maximum interest rate of 12.50 percent effective April 30, 2024, tied to the Federal Reserve’s prime loan rate plus a 4 percent ceiling.