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Board of Financial Institutions seeks funds for employee pay, IT and examiner travel
Summary
The Board of Financial Institutions told the Senate Finance subcommittee it needs additional other‑funds authority to cover a July pay increase and higher travel and IT costs for bank examiners, and described the agencies it regulates as holding about $55 billion in assets.
The Board of Financial Institutions asked the Senate Finance subcommittee on transportation and regulatory matters for authority to spend additional other funds to cover employee pay and operating costs, commissioners told the panel on an afternoon in October.
Ron Bodvick, commissioner of the Consumer Finance Division of the Board of Financial Institutions, said the board’s mission is to “protect the citizens of South Carolina, strengthen consumer confidence, assure reliable access to financial services, and encourage economic growth.” He told the subcommittee…
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