New Arizona Regulator Replaces Houseworth

PHOENIX – A new top credit union regulator for Arizona, Felicia Rotellini, takes over next month replacing Richard Houseworth, the state’s superintendent of banking, who is retiring after 12 years on the job. Rotellini, an attorney who has been assistant superintendent since January 2005, assumes the regulatory post as the banking department undergoes a name change to the Department of Financial Institutions. The name change is the result of a new Arizona law which takes effect Dec. 31 and was pushed by the Arizona Credit Union League. Announcement of Rotellini’s appointment was made by Gov. Janet Napolitano. Before becoming assistant superintendent, Rotellini served in the state Attorney General’s office “investigating and prosecuting white collar and financial fraud cases,” said a statement from the governor’s office. She also served as chief legal counsel for a newly created Accountancy Enforcement Unit. Press accounts on the Rotellini appointment noted the former AG staffer had been involved in prosecuting several high-profile cases in the state, including an accounting fraud and a bankruptcy case centering on a Phoenix home builder. A statement sent out to members of the ACUL noted that league staff has worked closely with Rotellini and “we’ve developed a strong, positive relationship with Felicia during her tenure as assistant superintendent.” Houseworth, a former Bank of America executive before taking the state job, has served as superintendent since 1993. He worked for BofA for 33 years before President Reagan appointed him to the Export/Import bank and later was named to the Inter-American Development Bank by President George H.W. Bush. Rotellini earned her law degree from the University of Notre Dame in 1986 and was an attorney in private practice from 1986-1992. -