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Kentucky Leaders in National Regulatory Associations
Kentucky Ag Connection - 06/20/2017

Department of Financial Institutions (DFI) employees Tammy Scruggs and Shonita Bossier have been selected to serve in leadership positions for prestigious financial regulation associations representing consumer credit administrators and securities administrators.

Scruggs will serve on the Executive Committee of the National Association of Consumer Credit Administrators (NACCA), which was formed in 1935 to improve the supervision of consumer credit regulatory agencies and to facilitate the administration of laws governing these agencies. As a member of the NACCA Executive Committee, Scruggs will work with other state regulatory leaders from Virginia, South Carolina, Kansas, Indiana, Idaho, and Oregon to steer the activities of the association.

Bossier will serve as secretary of the North American Securities Administrators Association (NASAA) Board of Directors, acting as the custodian for corporate records and assisting the association with policy development. NASAA is the oldest international organization devoted to investor protection, and, in the United States, the association serves as the voice of state securities agencies responsible for efficient capital formation. Bossier is joined on the executive committee by regulators from Minnesota, Alabama, Maine, Vermont, Alaska, Florida, Maryland, and Alberta, Canada. Bossier also serves on several NASAA committees, including the Standardized Training and Technology Committee and the Investment Adviser Section Committee.

"DFI has a longstanding practice of seeking leadership roles in national associations, which fosters cooperation among financial industry regulators and provides Kentucky with a national voice," said DFI Commissioner Charles Vice. "This is a great opportunity for Kentucky to influence national issues."

Scruggs is the current director of DFI's Division of Nondepository Institutions, where she oversees consumer loan companies, industrial loan companies, mortgage loan companies and brokers, mortgage loan originators, check cashers, and money transmitters.

Bossier is the director of DFI's Division of Securities and is tasked with the licensing of securities firms and professionals, registration of securities offerings, examination of firms and individuals, and investigation of alleged violations of the Securities Act of Kentucky.


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