December 13, 2022
State Bank Supervisors Appoint New York Superintendent Adrienne A. Harris to FSOC
Texas Banking Commissioner Charles G. Cooper Concludes his Service
Washington, D.C. — State bank supervisors have appointed New York State Department of Financial Services Superintendent Adrienne A. Harris to serve as the state banking representative on the Financial Stability Oversight Council (FSOC), succeeding Texas Banking Commissioner Charles G. Cooper who will conclude his service on Dec. 31, 2022.
“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. I am confident that our nation’s financial system will be well served by this appointment,” said James M. Cooper, president and CEO of the Conference of State Bank Supervisors (CSBS). “We thank Commissioner Cooper for his service. He has been a model for cooperative federalism, reminding both state and federal regulators that we have much to learn from one another and will best succeed when acting together.”
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.
State supervisors voted this past September for Superintendent Harris to take the role beginning Jan. 1, 2023.
“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,” said Superintendent Harris. “I am humbled and honored by the support of my fellow state bank regulators to represent their views on this important council.”
Superintendent Harris was nominated to lead the New York State Department of Financial Services by Governor Kathy Hochul in August 2021 and confirmed by the New York State Senate on January 25, 2022.
Superintendent Harris joined the Obama Administration in 2013 as Senior Advisor in the U.S. Treasury Department before being appointed Special Assistant to the President for Economic Policy, as part of the White House National Economic Council. In this role, she managed the financial services portfolio, focusing on the implementation of Dodd-Frank, and developed strategies for financial reform, consumer protections, cybersecurity and housing finance reform.
Prior to her nomination, Superintended Harris was an executive in the private sector and a professor and faculty co-director at the University of Michigan’s Gerald R. Ford School of Public Policy's Center on Finance, Law and Policy. She began her career as an associate at Sullivan & Cromwell LLP.
Commissioner Cooper began his first term as FSOC state banking representative in September 2018 and was twice reappointed by his colleagues. He represented state banking regulators’ perspective on several important issues, including climate-related financial risk and state-federal pandemic coordination. Most recently, Commissioner Cooper was influential in ensuring that the FSOC’s recommendations on digital assets considered state banking regulators and adequately reflected state laws and regulations.
Contact: Laura Fisher, 202- 812-9813, [email protected]
The Conference of State Bank Supervisors (CSBS) is the national organization of bank regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands. State regulators supervise roughly three-quarters of all U.S. banks and a variety of non-depository financial services. CSBS, on behalf of state regulators, also operates the Nationwide Multistate Licensing System to license and register non-depository financial service providers in the mortgage, money services businesses, consumer finance and debt industries.