To protect consumers and ensure a robust financial sector that can support a growing economy, Governor Maggie Hassan announced today that she will nominate Glenn Perlow to serve as the new Commissioner of the New Hampshire Banking Department.
The Banking Department is charged with protecting the public interest by securing the safety and soundness of banks and credit unions, and by regulating non-bank consumer loan lenders and loan brokers.
Perlow, of Concord, has served at the Banking Department since 2011, where he currently holds the position of Deputy Commissioner. He previously served in various roles, including Senior Assistant Attorney General, during five years at the Department of Justice and has years of experience in private law practice. Perlow received his J.D. from Lewis & Clark Law School in 1997.
"Keeping New Hampshire's financial sector strong is critical for supporting innovative economic growth through access to credit and capital for our people and businesses," Governor Hassan said. "I am confident that Glenn Perlow's experience at both the Banking and Justice Departments will enable him to ably fulfill this important responsibility to support our financial markets while ensuring strong protections for New Hampshire consumers."
"The role of the Banking Commissioner is vitally important for maintaining the health of our financial institutions and keeping consumers safe from predatory practices," Perlow said. "I thank Governor Hassan for this important opportunity and look forward to working with her to ensure the safe flow of credit that will help grow our economy."
The NH Banking Department is responsible for the general supervision of all state chartered financial institutions. These institutions include commercial banks, fiduciary trust companies, mutual savings banks, guaranty savings banks, co-operative banks, merchant banks, and credit unions. The Department is also charged with the licensing and supervision of nondepository residential mortgage bankers, brokers, servicers and loan originators, money transmitters, retail sellers, sales finance companies, small loan lenders and debt adjusters.
The Banking Commissioner has authority to investigate consumer complaints, hold public hearings and assess administrative fines and order restitution if New Hampshire State Laws are violated by institutions under the commissioner's jurisdiction.
Perlow's nomination is subject to confirmation by the Executive Council. Governor Hassan will formally nominate Perlow to the Council at Wednesday's meeting.