June 6, 2013

Ray Grace Confirmed as NC Banking Commissioner

Photo by Matt Cordell
Ray Grace has finally been confirmed as North Carolina's Commissioner of Banks.

After former Commissioner Joseph A. Smith, Jr., resigned effective February 16, 2012, then-Governor Beverly Purdue appointed Grace, then Deputy Commissioner, to serve as Acting Commissioner until a new Commissioner could be nominated and confirmed.  Under the banking statute in effect at the time, Governor Purdue was required to submit the name of a permanent successor to the General Assembly within four weeks. She nominated Ray Grace by the end of the month.  However, as I predicted back in February of 2012, the confirmation process took much, much longer. 

Governor McCrory nominated Acting Commissioner Grace more than a year later, in March of 2013.  The Senate approved on May 15, 2013, and the House approved today, June 6, 2013.  (The Resolution can be viewed here.)

Commissioner Grace will serve a term that is set to expire on March 31, 2015. 

After serving in the Vietnam War from 1966 to 1969, Commissioner Grace attened Niagara University until 1973.  He began his career at NCCOB as an examiner trainee on July 1, 1974, and rose through the ranks in the subsequent 39 years.

Congratulations, Mr. Commissioner. 

1 comment:

albina N muro said...

Under the banking statute in effect at the time, Governor Purdue was required to submit the name of a permanent successor to the General Assembly within four weeks. Get Some Dosh