LANSING, Mich. – In a major coup for credit unions, the Office of Financial and Insurance Services, which regulates 225 state chartered credit unions, has named Ken Ross, a former executive with the Michigan CU League, its new commissioner. Ross, who was vice president of regulatory affairs for the league through 2003, will succeed Linda Watters, who resigned last week. Watters will be joining the financial risk-management practice of KPMG LLP, in Chicago. Ross joined OFIS as Watters’ chief of staff in 2003, then was named deputy commissioner earlier this year. While working for the league, he helped draft the credit union reform bill, then worked to implement the law when he went to work for the state regulator.
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