FORT LEE, N.J.--(BUSINESS WIRE)--Cross River today announced the appointment of David Cotney to the bank’s Board of Directors. Mr. Cotney joins a team of experienced banking, regulatory, business and technology leaders who work with Cross River’s executive management team to provide the bank’s strategic direction and regulatory compliance framework.
Cross River’s CEO Gilles Gade said, “We are thrilled to welcome David to the Cross River board. David is a seasoned regulator who will bring tremendous value to the bank and board oversight. David has demonstrated his ability to combine the rigors of compliance with the tech savvy environment Cross River evolves in. David’s expertise and guidance will prove to be extremely valuable as we continue to navigate a range of complex technology and regulatory subject matters.”
“I am excited to join the Board of Cross River,” said Cotney. “Cross River has distinguished itself as a leader in financial technology and innovation. Together with its partners, Cross River offers online lending solutions to consumers and small businesses and is making payments faster and more secure. As a regulator, I stressed the importance of both compliance and innovation and Cross River understands each.”
Most recently Cotney served as Commissioner of Banks for the Massachusetts Division of Banks where he was responsible for the supervision of nearly 200 state-chartered banks and credit unions holding combined assets of over $400 billion. Cotney was responsible for the licensing and supervision of nearly 500 mortgage lenders and brokers; over 7,000 individual mortgage loan originators; and an additional 3,000 non-bank financial entities, including check cashers, money transmitters, finance companies, and debt collectors.
Previously, Cotney served as the Chairman of the State Liaison Committee of the Federal Financial Institutions Examination Council (FFIEC), and served as the first State voting member of the FFIEC's Task Force on Consumer Compliance. Cotney was also Chairman of the Board of Directors of the Conference of State Bank Supervisors, an association of state regulators devoted to strengthening the role of state financial supervision.
Mr. Cotney holds a Masters of Public Administration from the John F. Kennedy School of Government at Harvard University, and an MBA from Boston University. He is a graduate Tufts University where he earned a BA in Political Science.
About Cross River
Cross River is a New Jersey State Chartered FDIC-insured bank. Cross River has developed strategic partnerships with financial technology leaders to build fully compliant and integrated solutions for the marketplace lending and payment processing arenas. Cross River was named Most Innovative Bank at LendIt 2017. www.crossriverbank.com