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For immediate release
Contact: Katherine Q. Dibling, 215-574-4119
Philadelphia, Pa. — Michael E. Collins, executive vice president and lending officer, who leads the Supervision, Regulation and Credit Department, has announced his plan to retire on June 1, 2011, after 37 years with the Federal Reserve Bank of Philadelphia.
Michael E. Collins
William W. Lang, senior vice president and chief examinations officer, will lead the Supervision, Regulation and Credit Department beginning in June.
Collins administers the Bank’s discount window, which provides loans to eligible depository institutions to meet short-term liquidity needs, and oversees community and regional supervision and information systems examinations of banking organizations in the Third Federal Reserve District.
“During his almost four decades at the Philadelphia Fed, Mike has played a significant role in shaping the direction of bank supervision here in Philadelphia and throughout the Federal Reserve System. His contributions and leadership are greatly appreciated and will be missed,” said Charles I. Plosser, president and CEO, Federal Reserve Bank of Philadelphia.
William W. Lang
Collins began working at the Philadelphia Fed while a senior in high school, working part-time in the savings bond unit prior to attending college. He began his career after college in 1974 as an assistant examiner, rising through the examiner levels, to become vice president in 1992. Collins was promoted to senior vice president in 1994 and was named executive vice president in 2009.
Collins is an advisory board member of the American Bankers Association’s Stonier National Graduate School of Banking, an executive management school for the financial services industry. Collins earned a bachelor’s degree in economics/marketing from Susquehanna University. He is a graduate of the Stonier Graduate School of Banking and the University of Virginia, Graduate School of Retail Bank Management. In 2003, he completed the Advanced Management Program at Harvard Business School. Collins was a 2003 alumni honorary inductee into Susquehanna University’s chapter of Beta Gamma Sigma, a prestigious business honor society.
Lang joined the Bank in 2002 as vice president after eight years with the Office of the Comptroller of the Currency, where he served as director of Special Studies. He became senior vice president in 2009 and oversees supervision and regulation staff responsible for examinations of safety and soundness and consumer compliance. He also oversees the department’s professional development unit. From 1985 to 1994, Lang was an assistant professor of economics at Rutgers. He has also served as a visiting scholar at the Philadelphia Fed. Lang received a Ph.D. in economics from Yale University.
The Federal Reserve Bank of Philadelphia helps formulate and implement monetary policy, supervises banks and bank holding companies, and provides financial services to depository institutions and the federal government. It is one of the 12 regional Reserve Banks that, together with the Board of Governors in Washington, D.C., make up the Federal Reserve System. The Philadelphia Federal Reserve Bank serves eastern Pennsylvania, southern New Jersey, and Delaware.