Cross River Bank in Fort Lee, N.J., announced Monday it is appointing David Cotney to its board of directors, with a focus on guiding the bank’s regulatory compliance framework.
Cotney most recently served as commissioner of banks for the Massachusetts Division of Banks, where he was responsible for the supervision of nearly 200 state-chartered banks and credit unions holding combined assets of over $400 billion.
Prior to that, Cotney served as the chairman of the State Liaison Committee of the Federal Financial Institutions Examination Council, and was the first state voting member of the FFIEC's task force on consumer compliance.
“Cross River has distinguished itself as a leader in financial technology and innovation,” Cotney said in a press release issued by the bank. “Together with its partners, Cross River offers online lending solutions to consumers and small businesses and is making payments faster and more secure. As a regulator, I stressed the importance of both compliance and innovation and Cross River understands each.”