League Lobbyist Named State Financial Services Commissioner
The Colorado Department of Regulatory Agencies appointed a former California and Nevada Credit Union Leagues lobbyist as commissioner of financial services and director of the Division of Financial Services, DORA Executive Director Joe Neguse announced Monday.
Patricia Salazar most recently served California’s financial services regulator, the Department of Business Oversight, as a deputy commissioner responsible for public affairs, policy development, performance planning and managing the department’s consumer services office. Before that, she served as the state legislative and regulatory lobbyist for the California and Nevada Credit Union Leagues. Salazar will officially start her new role Nov. 12.
“We look forward to Patricia joining the DORA team and putting her experience with credit unions to work for the people of our great state,” Neguse said in a prepared statement. “Her knowledge of financial services regulation will bring us new perspectives in our ongoing efforts to reduce regulatory burdens, cut ‘red tape’ and support economic growth for our state chartered credit unions, all of which contribute to and serve a vital role in Colorado communities.”
DORA’s Division of Financial Services protects consumers by regulating and supervising state chartered credit unions and savings and loan associations, administering and enforcing the Savings and Loan Public Deposit Protection Act, and regulating certain financial activities of life care institutions, the department said.
Mountain West Credit Union Association President/CEO Scott Earl applauded Salazar’s new role; during her time with the California and Nevada leagues, she worked closely with staff at the Mountain West Credit Union Association.
“Patty’s broad experience and already existing relationships within our state and industry will be a particular asset to the interests of Colorado’s credit unions,” Earl said. “Her experience and background will be helpful as we navigate the ever-challenging world of financial regulations.”