FORT WORTH, Texas, Aug. 13, 2014 /PRNewswire/ -- David Motley, President of Colonial's banking and mortgage operations, has announced the addition of Richard Harvey as Chief Compliance Officer. Harvey is a highly regarded financial services compliance professional with more than 25 years of experience in building bank compliance infrastructure to exceed regulatory expectations. In his new position, Harvey will be responsible for further development and maintenance of compliance processes related to state and federal law for Colonial's numerous business lines.
Harvey was most recently Chief Compliance Officer and General Counsel for Omney Inc. in California. He graduated with a bachelor's degree in political science from the University of the District of Columbia and a juris doctor degree from the Catholic University of America Columbus School of Law. He is also an alumnus of the American Bankers Association Graduate School of Compliance and the American Bankers Association National Compliance School. He has served as Trial Attorney for the Office of Thrift Supervision and as Former Chair of the American Bankers Association Compliance Executive Committee. In addition, Harvey is a former member of the ABA's Government Relations Council. He is a retired U.S. Air Force Reserves Officer and former board member for Habitat for Humanity.
"As the financial industry has become more and more regulated, our compliance duties have increased," said David Motley, President of Colonial. "Richard brings extensive knowledge and management experience to maintain and enhance our historically high marks for regulatory compliance. His addition to our management team will ensure the company is well positioned to meet an increasingly rigorous regulatory environment."
Founded in 1952, Colonial is a national, multi-service financial institution headquartered in Fort Worth, Texas, and is one of the largest servicers of mortgage loans in the United States, with a servicing portfolio of $23 Billion. Colonial is known for its mortgage divisions: Colonial National Mortgage, a leading retail mortgage lender; CU Members Mortgage, which provides mortgage services to more than 1,000 credit unions nationwide; and Community Bankers Mortgage, which provides mortgage origination and servicing to community banks. Colonial maintains a network of eight consumer/commercial banks located throughout North Central Texas. It is also affiliated with Colonial Life Insurance Company of Texas, DuBose & Associates Insurance, and Colonial Lloyds Insurance. The privately held company provides a full array of personal and business financial products and originates approximately $3 billion in FHA, VA, conventional and innovative single close construction loans annually.
- Richard Harvey
- Chief Compliance Officer