Gloria Papiez Announces Retirement from Washington Department of Financial Institutions
January 28, 2019
Gloria Papiez, Director of the Washington Department of Financial Institutions, has announced her retirement effective April 1. Papiez has been the agency’s Director since March 2017. She held leadership positions in the DFI since 2000, and prior to joining the agency, also spent six years with the Washington Utilities and Transportation Commission, and 10 years with the Washington State Auditor’s Office.
“In thinking of all the things my agency has accomplished, I am most proud of the reputation that Washington DFI is a leader in financial regulation,” Papiez said. “We have worked hard to ensure that we are a fair and balanced regulator, modern and innovative, and ensuring that our state is open for business for financial services entities that wish to do business here, while at the same time never forgetting our consumer protection role.”
John Trull, Northwest Credit Union Association VP, Regulatory Advocacy, expressed gratitude for Papiez’s leadership.
“The Washington DFI is admired by agencies in other states for its fair approach in providing a business environment where financial institutions can thrive, and consumers can trust their financial services providers,” Trull said.
The Northwest Credit Union Association, in collaboration with member credit unions, will stay close to the process of appointing a new Director.
“Your Association works closely with DFI to ensure that the charter and regulatory environment for credit unions is modernized, relevant, and positioned to allow credit unions to best serve the 4.3 million Washingtonians who are credit union members,” Trull said. “We are working with Governor Inslee’s office to ensure that DFI remains a leader in financial regulation.”
In working with the Governor to select the next Director, he noted, NWCUA will encourage consideration of candidates who:
- Have extensive experience working with regulators in the financial services industry and regulatory agencies;
- Experience in the credit marketplace;
- Understand the need to provide a balanced environment for both state-chartered credit unions and banks; and
- Prioritize keeping state charters modern and relevant, both to protect consumers and to help financial institutions serve consumers.
Gov. Inslee praised Papiez for leaving “an indelible mark on the financial services industry for the better.”
“Gloria has played a pivotal role in building DFI into one of the top financial regulatory agencies in the nation, known for innovative regulation, consumer protection, and an ongoing commitment to financial education, outreach, and support,” Inslee said.
During Papiez’s leadership at DFI, the agency implemented several significant projects benefitting consumers and the financial services industry. Learn more on the agency’s website.
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