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38th Annual

January 24, 2008


G. Edward "ED" Leary, Commissioner, Utah Department of Financial Institutions
Banking in Today's World

G. Edward Leary was appointed commissioner of the Utah Department of Financial Institutions in June 1992.  He joined the Department in 1977 as an examiner and rose through the ranks, holding positions as industry supervisor and chief examiner before his appointment as commissioner.
Commissioner Leary serves as chairman of the board of Financial Institutions, a member of the Utah Housing Corporation Board, and he provides support to the Utah Money Management Council.  He is the chairman of the State/Federal Working Group, comprised of the directors of supervision for the Federal Reserve and the FDIC along with three state banking commissioners.  He is the former chairman of the Conference of State Bank Supervisors (CSBS), the National Association of State Banking Supervisors, the CSBS’s Regulatory and Technology Committees,  and the Federal Financial Institutions Examination Council’s State Liaison Committee representing state banking commissioners. He has testified before both houses of the U.S. Congress on financial institution regulation and public policy issues.

Under Commissioner Leary’s leadership, the Department became accredited by the Conference of State Bank Supervisors and the National Association of State Credit Union supervisors; fostered the development of the Industrial Loan Corporation (Industrial Banks) industry in Utah; and rewrote portions of Utah’s Financial Institutions Act, facilitating interstate banking and branching, allowing foreign-owned depository institutions, updating ATM law, authorizing state-chartered depository institutions to engage in the insurance business, and positioning Utah trust laws among  the most progressive in the nation.

Commissioner Leary holds a BS in political science and an MBA from the University of Utah.  He retired in 1995 as a Captain in the U.S. Naval Reserve.  He is married to the former Betty Chamberlain and they have five children. 

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