The South Carolina Senate Banking and Insurance Committee passed favorably the nomination of SPC Credit Union CFO Billy Byrd to serve on the SC Board of Financial Institutions (BOFI) on Wednesday, April 24, 2019. Byrd will replace Palmetto Health Credit Union President Hansel Hart, who is term limited.
The Board’s oversight includes:
The promulgation of regulations and instructions relating to the supervision of financial institutions;
The consideration of applications for new banks, trust companies, savings and loan associations, savings banks, credit unions, non-depository mortgage lenders/servicers and their branches, loan originators, consumer lenders, deferred presentment providers, and check-cashing service providers; and
The consideration of applications for branches of banks, savings and loan associations, savings banks, credit unions, and trust companies.
“We thank Hansel Hart for his service on the SC Board of Financial Institutions,” said Carolinas Credit Union League President/CEO Dan Schline. “Through Hart’s service we have seen positive change for our SC state-chartered credit unions.”
The next step is full confirmation by the senate which is expected to take place next week.