FOR IMMEDIATE RELEASE: October 30, 1996

Financial Institutions Bureau Commissioner Patrick M. McQueen announced today that Ms. Barbara J. Strefling was appointed on October 25, 1996 to the position of Director of the new Licensing & Enforcement Division in the Financial Institutions Bureau.

The Licensing & Enforcement Division is responsible for the licensing of first and second mortgage lenders, consumer financial services companies, regulatory loan companies, money order and travellers check sellers, BIDCO's, motor vehicle dealers, and auto finance companies. The division is also responsible for taking formal enforcement actions against these licensees and responding to consumer complaints and inquires.

Ms. Strefling, a CPA, has been an employee of the bureau since 1986, having previously worked at the accounting firm of KPMG Peat Marwick. The Licensing & Enforcement Division is one of the two new divisions that were formed from the previously-existing Consumer Finance Division. The other division is the Examinations Division which is headed by Ms. A. Ann Gaultney. The Examinations Division is responsible for conducting examinations and investigations of all the financial services licensees. Commissioner McQueen indicated that the organization of the consumer finance division responsibilities will increase efficiency and improve services to licensees and the public.