Lavolette Named New Chief Deputy Commissioner of Michigan OFIS

LANSING, Mich. – After nearly a year of remaining vacant, the position of Chief Deputy Commissioner for the Michigan Office of Financial Evaluation has been filled. Richard Lavolette was selected by Office of Financial and Insurance Services Commissioner Linda Watters to fill the spot. He succeeds former chief deputy commissioner Ron Jones who left the position about eight months ago to work in a position in the state Treasury Department. A 10-year veteran of OFIS – and a veteran of more than 30 years of the State of Michigan – Lavolette was formerly Senior Attorney with the agency. While with OFIS, he led the state's effort in drafting the Savings Bank Act and drafted and edited various sections of the Banking Code of 1999 and the Credit Union Act. He also worked on proposed legislation and amendments involving mortgage lending, money transmitting, and other statutes affecting the state's financial institutions. OFIS operates under two separate offices – the Office of Financial Evaluation (OFE) and the Office of Policy, Conduct and Consumer Assistance. OFE, which Lavolette will head, includes the Bank and Trust Division, the Credit Union Division, the Enterprise Monitoring Division, and the Supervisory Affairs and Insurance Monitoring Division. Director Roger Little heads the Credit Union Division which is responsible for ensuring the safety and soundness of the state's credit unions.