November 20, 2017

Commissioner Mike Rothman Resigns, Governor Appoints Jessica Looman as New Commerce Commissioner

On Friday, Commissioner Mike Rothman announced that he was stepping down effective immediately from his position at the Minnesota Department of Commerce with the intention of running for Attorney General.

According to the Star Tribune, “Rothman touted his accomplishments at the Commerce Department in a news release announcing his departure, including working to ‘protect consumers, advance Minnesota’s clean energy economy, enhance financial education and outreach, and protect the public interest.’”

The MBA has a great working relationship with Commissioner Rothman and his staff. He has been accessible to meet on legislative subjects, as well as attending numerous MBA meetings and events.

Governor Mark Dayton then announced that he is appointing Jessica Looman the new Commerce Commissioner.

Jessica Looman had served as deputy commissioner for the Minnesota Department of Labor and Industry (DLI) since December 2014. She was responsible for the strategic coordination of the DLI divisions to meet the agency's objective of ensuring equitable, healthy and safe work and living environments for Minnesota. Looman was the assistant commissioner for the agency's Construction Codes and Licensing Division and Apprenticeship and Labor Standards units since January 2011. Prior to joining DLI, she was general counsel for the Laborers District Council of Minnesota and North Dakota. Looman is a graduate of George Washington University (B.A. in political science) and from the University of Minnesota Law School (J.D.).

The MBA looks forward to meeting the new Commissioner and working with her in the near future.

From the Minnesota Department of Commerce:

2017 Minnesota State Banks Regulatory Conference

Register now for the Minnesota Banks Regulatory Conference - Commerce's conference on topics of state and regulatory interest for banks in Minnesota.

The conference will take place on Thursday, November 30, 2017 at Keller Golf Course in Maplewood from 8:30 AM to 4:00 PM. Please register by emailing Michael Crow, Chief Examiner at Michael.Crow@state.mn.us.

The conference will feature an overview from Deputy Commissioner Max Zappia and Chief Bank Examiner, Michael Crow, on assessments, legal lending limits and strategic planning.

You will also get updates on the economic outlook, and there will be opportunities for breakout sessions on the topics of commercial real estate and the applications and dividends process.

There also will be a panel discussion from federal regulators, and Mike Stevens from the Conference of State Banks Supervisors will discuss the value of state charters and right-size regulation.

Agenda

8:15 - Continental breakfast

9:00 - Opening Remarks

9:15 - Economic Outlook

10:15 - Break

10:30 - Commerce Roundtable – Deputy Commissioner Max Zappia and Chief Examiner Michael Crow

  • Legal Lending Limit
  • Assessment
  • Strategic Planning

11:30 - Lunch

12:45 - Break Out Session

a. Applications and Dividends – Tips for simplifying processing

b. Commercial Real Estate Expert

1:45 - Break

2:00 - Regulator Panel

  • Commerce
  • FDIC
  • Federal Reserve
  • FBI

3:15 - Conference of State Bank Supervisors – Value of state charter and right size regulation

3:45 - Closing Remarks – Deputy Commissioner Max Zappia

Please register by emailing Michael Crow, Chief Examiner at Michael.Crow@state.mn.us.

Upcoming Important Dates:

February 20, 2018 – 2018 Minnesota Legislative Session Begins

March 22, 2018 – MBA’s Bank Day at the Capitol, St. Paul

April 23-25, 2018 – MBA Washington Visit/ABA Spring Government Relations Summit, Washington, D.C.

Please contact Tess Rice or Therese Kuvaas for any additional information.

For more legislative updates, follow Therese Kuvaas, Government Relations Manager, on Twitter @thkuvaas