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CU CEO named to Michigan ORR committee
LANSING, Mich. (6/1/11)--Patty Campbell, CEO of Christian Financial CU, Roseville, Mich., was one of 13 new members appointed by the state of Michigan’s Office of Regulatory Reinvention (ORR) to its Insurance and Finance Rules Committee. The committee will assist the ORR in identifying duplicative, obsolete, unnecessary or unduly restrictive rules affecting the insurance, banking and finance industries, said the Michigan Credit Union League Michigan Monitor May 31). The committee’s first meeting will be held this month in Lansing. “This process will hopefully assure that proper safety and soundness regulations and practices are in place, but without creating too many regulatory burdens and costs for credit unions,” said David Adams, league CEO. “Eliminating unnecessary regulatory hurdles helps credit unions lend and serve Michigan’s economy.” Michigan credit union rules were last reviewed and revised as part of the Michigan Credit Union Act modernization effort during 2004-2005. “Our goal is to ensure strong consumer protections remain in place while eliminating unnecessary and burdensome regulations,” said Steve Hilfinger, ORR chief regulatory officer and director. “These appointments will help the Office of Regulatory Reinvention identify these types of rules that are preventing business growth and job creation.”


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