Massachusetts' new financial commissioner undertakes his first formal meeting with credit union leaders this week and a top issue will be the ascendancy of state regulation.
"I think the nation's financial crisis has put state regulation" in a more favorable light, declared David J. Cotney, commissioner of banks and loan agencies, in citing state influence on the regulatory process and improved fed/state cooperation.
Cotney, a veteran deputy who was promoted to commissioner in January, said his own agency has worked more closely in recent months with state and federal lawmakers, including U.S. Rep. Barney Frank (D-Mass.), senior Democrat on the House Financial Services Committee and co-author of the Dodd-Frank law.
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