DIFS Banking Director Elected Chair of FFIEC State Liaison Committee
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Media Contact: Andrea Miller
FOR IMMEDIATE RELEASE: May 2, 2016
(LANSING) The Federal Financial Institutions Examination Council (FFIEC or Council) State Liaison Committee (SLC) announced today the election of Karen K. Lawson as SLC Chair. Lawson is the Director of the Office of Banking for the Michigan Department of Insurance and Financial Services (DIFS), which is responsible for the supervision, regulation, and examination of state-chartered banks, savings banks, trust banks, and business and industrial development companies.
Lawson joined the State of Michigan as a bank examiner more than 20 years ago, and was appointed to lead the banking program in 2011. She is a member of the Board of Directors of the Conference of State Bank Supervisors (CSBS). Lawson has been active on the SLC since 2013, when she was first confirmed by the Council for a two-year term that began on May 1, 2013. On May 1, 2015, Lawson was re-appointed for a second two-year term which runs through April 30, 2017. During her time on the SLC, she has also served at the SLC representative to the Council’s Task Force on Supervision.
The FFIEC was created by Congress in March 1979 to prescribe uniform principles, standards, and report forms and to promote uniformity in the supervision of financial institutions. As SLC Chair, Lawson is the states’ voting member of the Council. The other voting members are:
- Daniel K. Tarullo, Member of the Board of Governors of the Federal Reserve System;
- Martin J. Gruenberg, Chairman of the Federal Deposit Insurance Corporation;
- Richard Cordray, Director of the Consumer Financial Protection Bureau;
- Thomas Curry, Comptroller of the Currency, Office of Comptroller of the Currency; and
- Rick Metsger, Vice Chairman of the National Credit Union Administration.
The SLC consists of five representatives of state banking agencies that supervise financial institutions. Members are designated by the Conference of State Bank Supervisors, the American Council of State Savings Supervisors, the National Association of State Credit Union Supervisors, and the Council. Lawson’s fellow SLC members are E. Joseph Face, Jr., Commissioner of the Virginia Bureau of Financial Institutions; Greg Gonzales, Commissioner of the Tennessee Department of Financial Institutions; Mary Hughes, Financial Institutions Bureau Chief of the Idaho Department of Finance; and Caroline Jones, Commissioner of the Texas Department of Savings and Mortgage Lending.
For more information about the FFIEC, please visit the website at www.ffiec.gov.