Texas bank commissioner appointed to nonvoting FSOC seat
WASHINGTON — Texas Banking Commissioner Charles Cooper has been appointed to serve as the state banking representative on the Financial Stability Oversight Council.
Cooper has worked in the banking industry for 45 years, and has been the Texas commissioner since 2008. He is also the chair emeritus of the Conference of State Bank Supervisors and the vice chair of State Regulatory Registry LLC.
“I am honored to be appointed to serve as a member of the FSOC and I look forward to working alongside the members of the Council on important matters of the U.S. financial system,” Cooper said in a statement.
The Dodd-Frank Act requires that one of the five nonvoting members of FSOC be a state banking supervisor. The representative serves a two-year term.
Cooper succeeds Ray Grace, North Carolina's bank commissioner. The appointment is effective immediately, CSBS said in a press release.
"Commissioner Cooper has been a leader on cybersecurity and other top issues impacting the state system. He has both state supervisory and industry experience that will make him a valuable contributor to the vital work of the FSOC," said John Ryan, the head of CSBS. “Charles truly understands the nation’s banking system.”