MARLBOROUGH, Mass. (2/4/11)--David J. Cotney has been appointed the new Commissioner of Banks in Massachusetts by Gov. Deval Patrick. Cotney, 43, began his 20-year career at the state’s division of banks as an examiner and most recently served as chief operating officer of the agency. He will oversee a staff of about 160 employees and a budget of $15.8 million, said the Massachusetts Credit Union League (e-WeeklyFeb. 3). Cotney has served as acting commissioner since the departure of Steven Antonakes in November. Cotney played a national role in the creation of the Nationwide Mortgage Licensing System, which allows regulators and consumers to track a mortgage broker through an online database of licensed brokers. Cotney and the Massachusetts Division of Banks were leaders in getting all states and territories entered into the system. League President Daniel F. Egan Jr. welcomed the news of Cotney’s appointment. “His long experience at the division together with his insight into the financial services is a real benefit to consumers of the Commonwealth and the industry,” Egan said.