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Financial Services Regulator to Keep Job…for now

July 29th, 2008 by Mike Vasilinda

The states top mortgage regulator is keeping his job, at least for another two weeks. The governor and cabinet gave Financial Regulations director Don Saxon until August 12th to come back with proposals to insure convicted felons are not being licensed as mortgage brokers. Inspectors General from the Governors office, the Attorney Generals office, the CFO and Agriculture Commissioner will use the next two weeks to determine if the office has been following state law. Saxons job will likely depend on the outcome of the investigation. Both CFO Alex Sink and the Governor indicated they have lost some confidence in the office to make sure the public is being protected.

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