DFS superintendent tapped for FSOC role

Adrienne Harris, New York State Department of Financial Services superintendent, has been appointed to serve as the state banking representative on the Financial Stability Oversight Council (FSOC).

Harris will succeed Texas Banking Commissioner Charles G. Cooper, who concludes his service on Dec. 31, 2022. State supervisors voted in September for Harris to take the role beginning Jan. 1, 2023.

“Superintendent Harris’ background and experience at both the federal and state level will be an asset for the council as it manages emerging risk during a time of economic uncertainty,” said James M. Cooper, president/CEO of the Conference of State Bank Supervisors. “I am confident that our nation’s financial system will be well served by this appointment.”

Title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act created the FSOC to monitor the safety and stability of the nation’s financial system, identify risks to the system and coordinate responses to any threat. The Dodd-Frank Act requires one of the five non-voting members of the FSOC be a state banking supervisor selected by state banking supervisors. 

“As the chartering authority and primary supervisor of an overwhelming majority of banks in the United States, state supervisors have a unique perspective into the emerging risks and threats to the stability of the financial system,” Harris said. “I am humbled and honored by the support of my fellow state bank regulators to represent their views on this important council.”

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