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Louisiana Governor s Office issued the following announcement on Dec. 11.
Gov. John Bel Edwards today congratulated John Ducrest, the former Commissioner of the Office of Financial Institutions on his retirement after 35 years of service to the state, at the start of December. Deputy Commissioner Christine Kirkland will serve as the acting commissioner.
“After 35 years of service with the Office of Financial Institutions, including sixteen as its commissioner, and having served under three governors, John Ducrest is deserving of a relaxing retirement,” Gov. Edwards said. “I appreciate his commitment to the financial institutions of Louisiana and the wealth of knowledge and experience he brought to the post, which the office will certainly miss. I also appreciate Deputy Commissioner Kirkland bringing her ten years of experience with the office to her role as acting commissioner.”
TAKEAWAYS
A closely divided Congress will limit financial services legislation but Biden appointees in key regulatory positions will have a large impact on the financial services policy agenda.
The Biden administration is likely to support fintech companies that are developing innovative financial products and services while increasing focus on consumer protection regulatory and enforcement priorities.
Although financial services regulation did not receive significant attention during the 2020 election campaign, President-elect Biden could have a significant impact on policies affecting financial institutions across the landscape. During the campaign, President-elect Biden supported proposals to expand access to banking services and financial products to the underserved and address disparate access to and treatment by the financial system.