HARRISBURG, Pa. (4/14/11)--Glenn Moyer, acting secretary of banking in Pennsylvania, was unanimously confirmed Tuesday by the State Senate Banking and Insurance Committee as secretary of banking.
Moyer, who was nominated by Gov. Tom Corbett, is familiar with credit unions. While serving as as an officer in the U.S. Air Force, stationed at Cannon Air Force Base in New Mexicohe he was a volunteer member on the credit committee of a credit union for armed services personnel, said the Pennsylvania Credit Union Association (PCUA) (Life is a Highway
April 13). Moyer said his priorities are to make all financial institutions aware of the department’s strengths, to provide support for a strong economy and to support business models that are good for the market. The Dodd-Frank Act is a “sea of change that will have a significant impact on how financial firms do business,” he said. Though he does not know how Dodd-Frank will change the industry, as a state Pennsylvania must be heard as new interpretations and regulations are considered in Washington, he said. “We need to let the Washington regulators know that, while we respect them and their work, we are not going away--and that the balance between the state and federal charters needs to be clear and preserved for the future,” he said. In congratulating Moyer on the appointment, PCUA President/CEO Jim McCormack said: “We appreciate his leadership in protecting the well-being of state-chartered financial institutions and his depth of knowledge of the needs and challenges of Pennsylvania’s financial institutions. We look forward to working with him in the years to come,” Moyer will address PCUA’s Annual Convention on May 11.