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BUREAU OF FINANCIAL INSTITUTIONS
Department of Professional and Financial Regulation
State of Maine
March 1, 2014

BULLETIN #8 - LOANS FROM SUPERVISED INSTITUTIONS

To the Chief Executive Officer Addressed:

Title 9-B MRSA § 213(2) requires that each financial institution subject to the supervision or regulation by the Bureau of Financial Institutions must provide written disclosure to the Superintendent of any loan granted to the Deputy Superintendents, Examiners, or other professional personnel of the Bureau, or a member of such person's immediate family. If the Superintendent or a member of the Superintendent's immediate family is the borrower, the disclosure must be made to the Commissioner of Professional & Financial Regulation. The disclosure shall include the fact of such loan, its terms and conditions. The Bureau employee obtaining the loan must provide this disclosure as well.

18 U.S.C. Sections 212 and 213 generally prohibits banks insured by the FDIC from lending to examining personnel. PL 108-198, the Preserving Independence of Financial Institution Examinations Act of 2003, was signed into law on December 19, 2003. The bill amends 18 USC Sections 212 and 213 by decriminalizing extensions of credit to examiners for credit cards and primary residential home loans if those loans are made on the same terms and conditions as are available to other borrowers. Therefore, banks may make, and Bureau professional staff may accept, credit cards and primary residential home loans from FDIC-insured institutions as long as those extensions of credit are made on the same terms and conditions as are available to other borrowers.

The following is an updated list of Bureau professional staff. Please disclose the information required by Title 9-B MRSA § 213(2) at the time a loan is made to a member of the Bureau's professional staff. Any loan previously disclosed need not be re-disclosed.

 

/s/ Lloyd P. LaFountain III

Superintendent

NOTE: This bulletin is intended solely for informational purposes. It is not intended to set forth legal rights, duties or privileges nor is it intended to provide legal advice. Readers are encouraged to consult applicable statutes and regulations and to contact the Bureau of Financial Institutions if additional information is needed.

Employee Spouse Residence
Asfahl, Amanda
Consumer Outreach Specialist
Asfahl, Justin Richmond
Barr, John
Deputy Superintendent
Hylan Barr, Marion Hallowell
Falcone, Carl R.
Principal Bank Examiner
-- Topsham
Hadiaris, Chris N.
Principal Bank Examiner
Hadiaris, Bonny Saco
LaFountain, Lloyd P. III
Superintendent
Hitz LaFountain, Trisha Biddeford
Libby, Evan
Bank Examiner
-- Auburn
Mattson, Lindsey
Principal Bank Examiner
Mattson, Aaron Manchester
McLaughlin, Andrea
Bank Examiner
-- Winthrop

Napolitano, Krisztina
Bank Examiner

Napolitano, Phillip Portland
O'Connor, John J.
Senior Bank Examiner
O'Connor, Susan East Winthrop

Ouellette, James
Bank Examiner

-- Sidney
Perry, Alison
Bank Examiner
-- Winslow
Studley, Robert B.
Deputy Superintendent
Studley, Claire Yarmouth
Van Dyck, Christian
Attorney
Van Dyck, Donna Brunswick

Last Updated: March 11, 2014