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Article: Banking Commissioner John Allison thrives on regulatory challenges.(Focus: Banking & Finance)
- Article from:
- The Mississippi Business Journal
- Article date:
- November 26, 2007
- Author:
CopyrightCOPYRIGHT 2007 Dolan Media Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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When John S. Allison, who has served as commissioner of Mississippi Department of Banking and Consumer Finance for eight years and as acting commissioner for two more years, first started working for the department, it only regulated banks, credit unions, small loan companies, premium finance, motor vehicle sales and sale of checks (money orders). But in recent years, the scope has been expanded to regulate a number of new industries such as mortgage companies, payday lenders, pawn shops and title pledge lenders.
'In the past seven or eight years, the number of businesses regulated has gone through the ceiling," Allison said. "Last year was the first year in ...