* ALEXANDRIA, Va. (3/18/10)--The National Credit Union Administration (NCUA) on Thursday named Christopher Colford as senior advisor for communications to Chairman
Debbie Matz. Colford will oversee Matz’s communications strategies and programs, according to the NCUA. In the release, Matz said that Colford is a “recognized expert in communications and public affairs” and a “gifted writer” that “brings communication management, speechwriting, editorial and public affairs expertise to NCUA.” A native of Elizabeth, N.J. Colford received a B.A. from Duke University and an M.A. from Harvard. Colford began his writing career as a Washington-based editorial writer and op-ed columnist for the Cleveland Plain Dealer
before taking on various posts as a Capitol Hill communications director and a special assistant at the Securities and Exchange Commission.... * WASHINGTON (3/18/10)--Senate Banking Committee Chairman Christopher Dodd’s (D-Conn.) financial reform legislation could consolidate the Federal Reserve Bank’s structure by combining the 12 district banks (American Banker
March 17). The Dodd bill would narrow the scope of banks the Fed supervises to 55 holding companies with more than $50 billion in assets. Now, the Fed supervises 4,974 companies and 844 individual state-chartered banks. The Federal Reserve Banks of Chicago and New York would oversee most institutions--while St. Louis and Kansas City would not regulate any institution. Kansas City currently supervises 810 bank holding companies and 172 state banks. With fewer district banks, the Federal Open Market Committee structure also could be reworked, Banker
said ... * WASHINGTON (3/18/10)--The number of banks deemed systemically significant would change under Senate Banking Committee Chairman Christopher Dodd’s (D-Conn.) financial reform bill, according to financial observers. Dodd’s bill would place the Fed in charge of the 55 holding companies worth more than $50 billion each but give the rest of the institutions’ oversight to the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency (American Banker
March 17). Neither agency has supervised holding companies before. Kip Weissman, partner at Luse Gorman, said the $50 billion cutoff would unfairly label too many banks as systemically significant. Ellen Seidman, former director of the Office of Thrift Supervision, said the bill was a compromise to try and keep the dual banking system and could work ...