Log In


Reset Password
  • MENU
    State
    Thursday, April 25, 2024

    Pitkin steps down as banking commissioner

    Connecticut Banking Commissioner Howard F. Pitkin will be stepping down from his post next month.

    Pitkin, credited with overseeing a series of foreclosure-prevention events around the state over the past few years, plans to retire after a four-decade career with the agency, Gov. Dannel P. Malloy said in announcing the decision today.

    “We are all grateful for the energy and commitment that he has given,” Malloy said in a statement. “This is undoubtedly a loss for the state, but I am certain that he is leaving an office that is stronger because of his efforts.”

    Pitkin also is credited with championing consumer protections, including expanding the department’s reach to regulate non-bank mortgage servicers. In addition, he played a role in restructuring the state’s foreclosure mediation program.

    Pitkin was first appointed as banking commissioner during the Rell administration. Malloy reappointed Pitkin as he entered his first term.

    The banking commission currently has four applications pending to convert federal banks and credit unions to state charters. According to Malloy’s office, the applications if approved would increase the commission’s regulatory oversight by another $3.5 billion in assets.

    “I thank Governor Malloy for his confidence in me and his support of this department during my term,” Pitkin said in a statement. “It has been an honor to serve as his banking commissioner.”

    The banking department’s eight foreclosure-assistance events reportedly helped nearly 8,000 people meet with lenders to try to stay in their homes.

    A successor to Pitkin will have to be named and confirmed in the coming weeks. Malloy will be sworn in for a second term Jan. 7.

    Comment threads are monitored for 48 hours after publication and then closed.