CHICAGO — After an 18-month hiatus, the state has a new credit union regulator, Chicago attorney Robert Meza, who said last week that payday lending and the role CUs play in serving unbanked consumer needs will be among his priorities.
"I just went to a meeting where I heard some interesting statistics from the FDIC on financial institutions reaching out to the unbanked, and so this is one area where I hope to work with the credit union community," said Meza, appointed Feb. 4 by Governor Rod Blagojevich, as director of the Division of Financial Institutions.
Meza, who succeeds a series of acting directors in recent years, told Credit Union Times he looks forward to working with the Illinois Credit Union League on pressing legislation though Springfield lawmakers are not expected to take up industry bills during the session devoted primarily to budget concerns.
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A prime issue, however, said sources will be final resolution of a long-standing Springfield court case with banks and other financial institutions as plaintiffs seeking lower examiner fees following a court-blocked seizure of the fees to finance other state operations.
Settlement of the case, which challenged Gov. Blagojevich's actions, is likely to result in bills that could legitimize final fee reductions, officials said.
Regarding the Illinois League, Meza said his first meeting with top staffers Feb. 13 went well, and in a formal press release the league noted that discussions centered on "changes in the organizational structure" of state regulatory agencies.
CUs now fall under a state division run by the Illinois Department of Financial and Professional Regulation headed by Secretary Dean Martinez, who is slated to be a speaker at the league's annual meeting April 17-19 in Chicago.
Commenting on the Meza appointment, the league said the real estate attorney "has diverse public and private sector experience" most recently associated with Williams Acosta, a Detroit-based firm.
He previously served as vice president of legal affairs for Urban Investment Trust Inc., a Chicago-based development firm with both commercial and residential holdings.
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