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News Now

CU System
New commissioner named at Vermont DFR
MONTPELIER, Vt. (1/22/13)--Vermont Gov. Peter Shumlin has appointed Susan L. Donegan as commissioner of the Vermont Department of Financial Regulation (DFR), succeeding Steve Kimbell.

The department regulates state-chartered credit unions.

Donegan has been deputy commissioner of insurance since 2011, said the Association of Vermont Credit Unions (Newslines Express Jan. 18). She worked at the department from 1985 to 1990 and was the department's first director of securities regulation.

Donegan also has served as counsel to the commissioner and hearing officer at the Massachusetts Division of Insurance from 2008 to 2011. She represents Vermont at the National Association of Insurance Commissioners.

Former Commissioner Kimbell was at the center of national attention last summer when he threatened a cease and desist order against Montpelier-based Vermont State Employees FCU for using the word "bank" in marketing and advertising materials. The credit union and the commissioner eventually reached an agreement in October on the matter.


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