The Michigan Department of Consumer & Industry Services has formally launched the Office of Financial and Insurance Services (OFIS). The new agency began operations Monday. Frank Fitzgerald is the new Commissioner of the OFIS, which has responsibility for regulating the insurance, financial and securities industries in Michigan. Gov. John Engler created the OFIS in response to the Gramm-Leach-Bliley Act passed late last year, consolidating Michigan’s insurance, financial institutions and securities oversight into one entity.
Topics Michigan
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