Pennsylvania Regulator Calling on Credit Unions, Banks for Grassroots Input
The Pennsylvania Department of Banking said its head, Glenn Moyer, is leading a new statewide “Client Financial Services” unit calling on both credit unions and banks to seek grassroots input on economic and regulatory issues.
Among the topics for the series of meetings is the impact of Dodd-Frank on financial operations, a spokesman said.
Moyer met Tuesday with a handful of credit union and bank CEOs in a tour of north-central counties to gain new feedback with more of the visits to continue in 2012.
In a statement, Moyer said the Office of Client Financial Services is being staffed with a team of six “area executives” who will be gathering information and seeking advice on business trends and concerns.
The department said the unit’s staffers would also meet with managers of federal credit unions since their views would also be valuable to chart state growth.
The Pennsylvania Credit Union Association said it welcomed the outreach program and that it looked forward to a beneficial liaison.
“Working together, we can help the Department develop fair and consistent regulatory policies for all financial institutions,” said James McCormack, president/CEO of PCUA.
The outreach effort is also being extended to mortgage firms and other financial providers that fall under the department’s purview.
Moyer, former president and CEO of National Penn Bancshares, was appointed secretary of banking by newly elected Gov. Tom Corbett and assumed the position last May.