Dorado appointed to FFIEC State Liaison Committee
ARLINGTON, VA (June 24, 2024) — The Federal Financial Institutions Examination Council (FFIEC) today announced the appointment of Raymond J. Dorado to the FFIEC’s State Liaison Committee (SLC). Dorado was designated by the National Association of State Credit Union Supervisors (NASCUS) to complete the remainder of the two-year term left vacant by the early departure of Deputy Superintendent of the Community and Regional Banks Unit Yolanda Ford. Dorado’s partial term on the SLC will expire on March 31, 2025.
Dorado currently serves as Senior Deputy Superintendent for the Banking Division at the New York State Department of Financial Services (DFS). Prior to joining DFS, Dorado was Executive Vice President & Deputy General Counsel – Commercial Banking and Head of the Enterprise Bank Regulatory group at Citizens Financial Group, where he led teams of lawyers advising the bank and providing strategic counsel on U.S. banking laws and regulations. Prior to that role, Dorado was Executive Vice President and Senior Policy and Planning Advisor to the Investment Services division of BNY Mellon, responsible for global strategic business initiatives and navigating potential risks in implementation. Before those roles, Dorado was Executive Vice President and Deputy General Counsel of BNY Mellon, and legal advisor to the Risk Committee of BNY Mellon’s Board of Directors.
The SLC is composed of five members and, in addition to Dorado, includes:
- SLC Chair Charles G. Cooper, Commissioner, Texas Department of Banking, selected by the Council;
- Kevin Allard, Superintendent, Ohio Division of Financial Institutions, designated by the American Council of State Savings Supervisors (ACSSS);
- Susannah Marshall, Commissioner, Arkansas Bank Department, designated by the Conference of State Bank Supervisors (CSBS); and
- Greg Gonzales, Commissioner of the Tennessee Department of Financial Institution, selected by the Council.
The FFIEC was created by the federal Financial Institutions Regulatory and Interest Rate Control Act of 1978 to “prescribe uniform principles and standards for the federal examination of financial institutions” and “make recommendations to promote uniformity” in the supervision of financial institutions. It also conducts schools for examiners employed by the five federal member agencies represented on the FFIEC and makes those schools available to employees of state agencies that supervise financial institutions.
The FFIEC consists of the following six voting members: a member of the Board of Governors of the Federal Reserve System; the Chairman of the Federal Deposit Insurance Corporation; the Director of the Consumer Financial Protection Bureau; the Comptroller of the Currency; the Chairman of the National Credit Union Administration; and the Chair of the SLC.
The SLC consists of five representatives of state banking and credit union agencies that supervise financial institutions. Members are designated by the CSBS, ACSSS, NASCUS, and the FFIEC. An SLC member may have his or her two-year term extended by the appointing organization for an additional, two-year term.
About FFIEC
The Federal Financial Institutions Examination Council (FFIEC) was established on March 10, 1979, pursuant to title X of the Financial Institutions Regulatory and Interest Rate Control Act of 1978 (FIRA), Public Law 95-630. In 1989, title XI of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) established The Appraisal Subcommittee (ASC) within the Examination Council.
The Council is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA), the Office of the Comptroller of the Currency (OCC), and the Consumer Financial Protection Bureau (CFPB) and to make recommendations to promote uniformity in the supervision of financial institutions. To encourage the application of uniform examination principles and standards by the state and federal supervisory authorities, the Council established, in accordance with the requirement of the statute, the State Liaison Committee composed of five representatives of state supervisory agencies. In accordance with the Financial Services Regulatory Relief Act of 2006, a representative state regulator was added as a voting member of the Council in October 2006.
The Council is responsible for developing uniform reporting systems for federally supervised financial institutions, their holding companies, and the nonfinancial institution subsidiaries of those institutions and holding companies. It conducts schools for examiners employed by the five federal member agencies represented on the Council and makes those schools available to employees of state agencies that supervise financial institutions.
The Council was given additional statutory responsibilities by section 340 of the Housing and Community Development Act of 1980 to facilitate public access to data that depository institutions must disclose under the Home Mortgage Disclosure Act of 1975 (HMDA) and the aggregation of annual HMDA data, by census tract, for each metropolitan statistical area (MSA).
