Armando Falcon, Democratic general counsel for the House Banking Committee, resigned Friday to consider a race for his boss' congressional seat.

Rep. Henry B. Gonzalez, the committee's ranking Democrat, announced Sept. 4 that he will retire at the end of the year.

Mr. Falcon, who has worked for the Banking Committee since 1990, said he will return to San Antonio this week to join a friend's law practice. "I am going home to practice law and explore the race," Mr. Falcon said. "I've looked real closely and wouldn't do it if didn't think I could win."

A special election to replace Rep. Gonzalez will be held March 10. A crowded field is expected, including Rep. Gonzalez's son Charles, a state judge.

Mr. Falcon will be succeeded on the committee by Amy Friend, a committee counsel since 1992. She has a law degree from Georgetown University.

Paul A. Schosberg, president of America's Community Bankers, adamantly opposes a community group's request that regulators stall applications by insurance companies for thrift charters.

"Acceding to this demand would represent a blanket, industrywide indictment of insurance firms," Mr. Schosberg wrote Office of Thrift Supervision Director Nicolas P. Retsinas on Sept. 10. "The Greenlining Institute has offered nothing more substantive than rhetorical flourishes to back up its appeal."

An OTS spokesman said the agency is still considering the request.

Ken A. Quincy, special assistant to the FDIC's deputy director of compliance and consumer affairs, plans to retire Sept. 30 after 32 years with the agency.

Mr. Quincy, 60, began his FDIC career as a bank examiner in Denver and had been chief of compliance and enforcement since 1994 until a reorganization this spring.

Separately, the FDIC promoted Cheryl A. Wassink Steffen to assistant regional director in Dallas on Sept. 1. She succeeded Steven D. Fritts, who became an associate director of compliance and consumer affairs in Washington.

Ms. Steffen joined the FDIC in 1980 and has been a review examiner in Washington for six years. Mr. Fritts is a nephew of Paul Fritts, a former FDIC executive director for supervision and resolution.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.