WASHINGTON (4/2/13)--As National Credit Union Administration Chairman Debbie Matz winds up her two-year term as head of the Federal Financial Institutions Examination Council (FFIEC), Comptroller of the Currency Thomas Curry was named to succeed her.
Curry said, "It's truly an honor to be named to the chair of the FFIEC. I want to express my appreciation to Chairwoman Matz for her service to the FFIEC over the last two extraordinary years in our industry.
"As the FFIEC looks to the future, I will continue to work with my colleagues to help ensure uniform examinations and standards that balance the financing needs of families, communities, and businesses while preserving the safety and soundness of the banking system."
Matz was named to her term on March 4, 2011, and at that time became the first credit union representative to lead the group in more than 20 years.
The FFIEC was formed in 1978 to promote uniformity in financial institution regulation. It is comprised of the heads of the NCUA, OCC, Federal Deposit Insurance Corp., Consumer Financial Protection Bureau, Council's State Liaison Committee, (SLC) and a member of the Federal Reserve Board.
The SLC consists of five representatives of state banking agencies that supervise financial institutions and the members are designated from the Conference of State Bank Supervisors, the American Council of State Savings Supervisors, the National Association of State Credit Union Supervisors, and the Council for two two-year terms.