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Kentucky banking commissioner to help lead national group

As chairman-elect, Vice will guide banking regulation, policy

FRANKFORT, Ky. – (May 29, 2012) – Charles Vice, commissioner of the Kentucky Department of Financial Institutions (DFI), has been voted into a leadership position with the Conference of State Bank Supervisors (CSBS) governing board.

CSBS is an organization of banking regulators from across the U.S. It gives state supervisors a national forum to coordinate supervision of state-chartered financial institutions and to develop regulatory policy.

As the new chairman-elect, Vice primarily is charged with heading up the strategic plan for CSBS and filling in for the chairman when he is not available. Vice will become chairman of the governing board in 2013.

“This is an honor for me and for Kentucky,” Vice said. “Through this position, I can help lead state regulatory efforts and continue to strengthen relationships with federal regulatory agencies that oversee the financial industry.”

Vice is the second Kentucky commissioner to serve in a leadership role for this national group. Kentucky’s first banking commissioner, Thomas J. Smith, in 1913 was the second vice chair (now called vice chair) and in 1914 was president (now called chairman) of the National Association of Supervisors of State Banks, which later changed its name to CSBS.

“As a former community banker, I know how much a strong banking industry contributes to the economic stability of the Commonwealth and the nation,” said Secretary Robert D. Vance of the Public Protection Cabinet, which houses DFI. “The Beshear administration selected Charles to be the commissioner of DFI because he understands and supports the state-charter banks. His election to this important national leadership role confirms the excellent job he’s doing to supervise Kentucky’s community banks.”

The 2012-2013 board of directors and officers was elected at the May 21 board meeting. The chairman is Greg Gonzales, Tennessee’s banking commissioner. In addition to Gonzales and Vice, the executive committee also includes commissioners from Arkansas, Louisiana, Massachusetts and Texas. District representatives, at-large board members and other board members include banking regulatory leaders from Alabama, Connecticut, Indiana, Iowa, Maine, Maryland, Nebraska, New York, North Dakota, Oregon, South Dakota, Utah, Washington and Wyoming. Chairmen emeritus also serve as non-voting ex-official members of the board. The board acts as the governing body of CSBS. For more information about CSBS, visit www.csbs.org.

DFI, which traces its origin to the Banking Act of 1912, is an agency in the Public Protection Cabinet. For 100 years it has supervised the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI’s mission is to serve Kentucky residents and protect their financial interests by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.