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News Now

CU System
New Michigan regulator has league experience
LANSING, Mich. (2/26/08)--Ken Ross, a former Michigan Credit Union League (MCUL) staff member, has been appointed as Michigan’s chief regulator of state chartered financial institutions. Michigan Gov. Jennifer Granholm announced Ross’ appointment Friday. Ross will serve as Office of Financial and Insurance Services (OFIS) Commissioner, effective immediately. “To our knowledge, this is the first time that an individual with a credit union background has ever served as the state’s chief regulator of financial institutions,” said MCUL President/CEO David Adams. Ross joined MCUL in October 2000 as regulatory affairs director, and was later named regulatory and legal affairs vice president. He played a role in modernizing the Michigan Credit Union Act, the league said. Ross left MCUL in December 2003 to join OFIS as chief of staff to the former commissioner. Granhom signed an executive order earlier this month, which renames OFIS as the Office of Financial and Insurance Regulation, effective April 6. The order establishes the position of a new state insurance consumer advocate to work on behalf of Michigan consumers’ interests in obtaining affordable and reliable home and car insurance.


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