BISMARCK, ND (KXNET) — North Dakota Department of Financial Institutions (DFI) Commissioner Lise Kruse has been appointed to serve as the state banking representative on the Financial Stability Oversight Council (FSOC). She will succeed New York State Department of Financial Services Superintendent Adrienne Harris, who concluded her two-year term on Dec. 31, 2024. “Commissioner Kruse’s extensive experience in bank and nonbank oversight will be a great asset to the Council as it monitors risk across an evolving financial system,” said Brandon Milhorn, President and CEO of the Conference of State Bank Supervisors (CSBS). “We deeply appreciate Superintendent Harris’ service, especially during a challenging period for the banking sector. Through her leadership, she demonstrated the value of state-federal coordination in a financial market that is increasingly complex and interconnected.” Student loan repayment available for Bismarck health professionals The purpose of the ND DFI is to make sure that regulated institutions stay safe and sound. The department is responsible for chartering, regulating, and examining state-chartered banks, credit unions, and trust companies in North Dakota. It also licenses and regulates money brokers. mortgage loan originators, collection agencies, and many other groups. Kruse joined the ND DFI in 2004 and was appointed by Governor Doug Burgum as its 26th Commissioner in December 2017. She received a Bachelor of Arts with majors in business and organizational communication from Concordia College, Moorhead, Minn., and her MBA with an emphasis in information technology from the University of Colorado. Kruse is also a graduate of the Graduate School of Banking at Colorado. In 2020, her peers elected her to serve on the CSBS Board of Directors, where she became chair in 2023.  “State regulators oversee 79% of U.S. banks and numerous nonbank entities, providing a unique perspective that strengthens the Council’s efforts to safeguard financial stability,” said Commissioner Kruse. “I am deeply honored by the trust my fellow state bank regulators have placed in me to represent their views on the Financial Stability Oversight Council.” Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Today's Top Stories SIGN UP NOW