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CU System
Michigan OFIR Commissioner Ken Ross resigns
LANSING, Mich. (4/14/11)--Michigan Office of Financial and Insurance Regulation (OFIR) Commissioner Ken Ross Wednesday announced his resignation from the position, effective Friday. Ross was appointed by then-Gov. Jennifer Granholm in February 2008 to a four year term, which expires in 2012 (The Detroit Free Press and The Detroit News April 13). "As Michigan’s first chief regulator of financial institutions with a credit union background, Ken understands the industry, the challenges we've faced in a tough economic climate and the services we provide in the community," said David Adams, CEO of the Michigan Credit Union League and Affiliates. "He has listened to credit union issues and has been a fair regulator for our industry, and we wish him well in his future endeavors." One of Ross's most recent acts was to write a letter to the Federal Reserve Board requesting that it reconsider its approach in implementing the debit transaction fee rule under the Dodd-Frank Wall Street Reform Act, according to the Michigan league's website. Earlier this year, Ross was appointed to the board of directors of the National Association of tate Credit Union Supervisors (NASCUS) to fill the unexpired term of retiring Roger Little. His term expires in September. Previously, Ross was the agency's deputy commissioner for policy and the chief of staff. He also worked as a state assistant attorney general and as vice president of regulatory and legal affairs for the Michigan league. Gov. Rick Snyder has not named a successor.


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