Pennsylvania’s acting secretary of banking, Glenn Moyer, is very familiar with credit unions.
The Pennsylvania Credit Union Association reported that Moyer served as a volunteer member on the credit committee of a credit union for armed services personnel while serving as an officer in the U.S. Air Force.
Moyer has not yet been confirmed as secretary of banking, according to the Pennsylvania Department of Banking. He recently went in front of the Senate Banking and Insurance Committee, which passed his nomination on to the full Senate with unanimous approval, said Edward Novak, a department spokesman.
“We are hoping for Senate confirmation in the coming weeks,” Novak said.
Moyer is scheduled to be one of the keynote speakers at the PCUA’s annual convention May 11.
“We appreciate (Moyer’s) leadership in protecting the well-being of state-chartered financial institutions and his depth of knowledge of the needs and challenges of Pennsylvania's financial institutions. We look forward to working with him in the years to come,” said PCUA President/CEO Jim McCormack.
Moyer said the Dodd-Frank Act will potentially change how financial institutions do business.
"We need to let the Washington regulators know that, while we respect them and their work, we are not going away, and that the balance between the state and federal charters needs to be clear and preserved for the future," Moyer said, according to the PCUA.
