OLYMPIA, Wash. – John Bley, the state’s first director of the Department of Financial Institutions, announced his resignation from the state’s top regulatory position. Bley said he had not made any formal decisions on the type of work he planned to pursue after his resignation. He said his decision was prompted “by the simple fact that it was time for a change, to do something else.” His tentative departure date from the division is mid-January. Prior to being named DFI director in October 1993, Bley was superintendent of the state’s division of banking. Following the statutorily-directed creation of the Department of Financial Institutions by combining pre-existing units from two state agencies, Bley assumed the director’s responsibilities and supervision of the divisions of credit unions, banks, consumer services, and securities. No successor has been named to the DFI director’s position, but Parker Cann, director of the credit union division, has been rumored as a possible candidate. The position is a governor-appointed, Cabinet position. “The division directors are all top-notched people,” said Bley. “I’m leaving the department in good hands.”
The disruption could introduce new risks into the system by compelling banks to loosen lending standards and take on greater risk.
The CDFI awards support to developers, renters and buyers.
Without email authentication standards, hackers don’t need to compromise accounts to send emails that impersonate FIs.
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