(Dec. 17, 2021) Kelly Lay is the new top examination executive for NCUA, the agency said this week replacing the retiring top staffer at the start of the year.

The agency said Lay, who replaces Myra Toeppe as NCUA Office of Examination & Insurance director, is a 25-year veteran of the agency. She has served as an examiner, supervision analyst, director of supervision and insurance in regional offices, and was associate director of programs for the agency’s region II. She takes over as office director on Jan. 1.

The agency said she was “also instrumental in guiding the development of the NCUA’s new examination system, the Modern Examination & Risk Identification Tool” (MERIT). She holds a BS (finance) from Illinois State University, and earned a certified public accountant (CPA) certification in Illinois in 2002.

Toeppe is retiring after more than 10 years at the agency and 34 years of public service, including at other federal financial institution regulators.

The examination and insurance office for the agency oversees exams and supervision of federally insured credit unions, as well as managing risk for the National Credit Union Share Insurance Fund (NCUSIF), which insures credit union members’ savings.

LINK:

Kelly Lay Named Director of the Office of Examination and Insurance

 

(April 16, 2021) Samuel Schumach was tapped as deputy director for external affairs and communications at NCUA this week by agency board Chairman Todd Harper. Schumach previously served as legislative affairs officer for the Federal Aviation Administration (FAA). Before that, he was a media spokesperson for the CFPB and had also served as press secretary for the Office of Personnel Management (OPM), the White House Office of National Drug Control Policy, and for former Senate Majority Leader Harry Reid (D-Nev.) … Two in five of new hires (42.1%) in 2020 were people of color, and gender diversity among senior executives achieved parity last year for the first time, NCUA said this week in a report outlining the agency’s hiring practices. In its Office of Minority and Women Inclusion (OMWI) annual report, NCUA also said 188 federally insured credit unions submitted Voluntary Credit Union Diversity Self-Assessments in 2020, up 59.3% from the 118 submissions in 2019 … Federal legislation to mitigate risks related to legacy contracts that use LIBOR (London Interbank Offered Rate) will be needed, Federal Reserve General Counsel Mark Van Der Weide told a congressional hearing Thursday. He said such legislation would establish a uniform national framework for replacing LIBOR in legacy contracts that do not provide for an appropriate fallback rate. Additionally, he indicated, a statute could diminish the instance of lawsuits that he said are inevitable due to the phase out of the reference rate. A witness at the same hearing from the OCC made essentially the same points. LIBOR is scheduled to be phased out at the end of this year (meaning, no new loans or contracts are supposed to be written that use the rate). Additionally, existing “legacy contracts” (or those that are in force now and using the reference rate) have until June 2023 to discontinue the reference rate … An executive order directing federal financial regulators (including NCUA) and others to combat climate-related financial risks is being prepared by President Joe Biden (D), according to press reports this week. The order would be issued in conjunction with a “climate summit” set for next week in Washington. Among other things, the order will also reportedly direct the Treasury Department to assess climate risks to the financial system and report back within 180 days.

LINKS:
Samuel Schumach Named Deputy Director for External Affairs and Communications

NCUA Releases Office of Minority and Women Inclusion Annual Report to Congress

 

(April 9, 2021) Leadership at FinCEN changes Sunday as a new acting director takes office, following the effective date today of the resignation of the most recent director.

The Treasury Department said this week that Michael Mosier, current counselor to the deputy secretary of the Treasury and a former FinCEN deputy director, will return to the agency as acting director, effective Sunday (April 11). He will be taking over for Kenneth A. Blanco, current FinCEN director, who announced late last week that he is stepping down today.

Before joining Treasury last month as the deputy secretary’s counselor, Mosier served as FinCEN’s deputy director and first digital innovation officer, the agency said in a release. Other federal law enforcement positions include associate director at Treasury’s Office of Foreign Assets Control (OFAC), deputy chief in the Department of Justice’s (DOJ) money laundering and asset recovery section. He also served in the White House National Security Council as director for transnational organized crime.

Treasury also said that AnnaLou Tirol, former associate director of FinCEN’s Strategic Operations Division, is now serving as FinCEN deputy director. Tirol joined FinCEN in 2019 as associate director of the strategic operations division, which promotes FinCEN’s strategic partnerships with government and private industry stakeholders, both domestically and internationally.

LINK:

FinCEN Announces Acting Director and New Deputy Director

 

(Feb. 19, 2021) Amanda Tuckey will lead NASCUS’ marketing and communications efforts when she joins the association next week as senior director of communications and marketing.

Most recently the director of marketing strategy and research for the Michigan Credit Union League (in Lansing), Tuckey brings broad experience to the state system’s representative association in such fields as campaign and brand management, marketing research, and consumer engagement.

A winner of the Diamond Award from the Credit Union Natl. Assn. (CUNA) for best brand awareness, and other honors, Tuckey is a former marketing director for the Michigan State Housing Development Authority and art director for the state’s Economic Development Corp. She has also managed her own marketing consulting firm.

She holds a BA in Psychology from Michigan State University and is currently completing work toward an MS in marketing research at the university.

“Through her work with the Michigan league, Amanda has developed a solid understanding of the credit union community, its challenges and its needs,” said NASCUS Leader Lucy Ito. “And her work with state agencies provided her with insight to the mechanics of local government. Combined with her accomplishments in marketing and communications, she is an outstanding addition to our team.”

(Nov. 6 ,2020) Ending an eight-month role as “acting” top supervisor for NCUA, Myra Toeppe has formally been named the director of the agency’s office of examination and insurance, according to a release issued Monday.

Since March, Toeppe has been serving as acting director of the agency’s office of examination and insurance. That position, according to NCUA, ensures the safety and soundness of federally insured credit unions, and manages risk to the National Credit Union Share Insurance Fund (NCUSIF). The release said the NCUA Board unanimously approved her selection as permanent director.

Toeppe replaced as E&I director Larry Fazio, who was named NCUA executive director last spring.

Prior to her role as acting director, Toeppe served nine years in executive positions with NCUA, including as an associate regional director, regional director, and strategic advisor, NCUA said. Before that, the agency said, she served 25 years with the Office of Thrift Supervision and the Federal Home Loan Bank of Atlanta.

She holds a B.S.B.A. and M.B.A. from the University of Central Florida. She is a 2011 graduate of the Stonier Graduate School of Banking and its Wharton Leadership Program; she has completed the Leadership for a Democratic Society Program at the Federal Executive Institute.

LINK:
Myra Toeppe Named Director of the Office of Examination and Insurance