The District of Columbia Department of Insurance, Securities & Banking (DISB) confirmed that former DISB senior official Stephen Taylor recently rejoined DISB as its new acting commissioner.
Taylor succeeds Chester A. McPherson, who has served as DISB’s acting commissioner since April 2014. DISB said McPherson is no longer with DISB and that no additional information is available.
Taylor was appointed by Washington, D.C., Mayor Muriel Bowser as DISB’s new acting commissioner and began his work at DISB on June 22, a DISB spokesperson said. His confirmation hearing has not yet been scheduled.
Taylor previously served as assistant attorney general in the Office of the Attorney General (OAG) of the District of Columbia where he offered legal counsel to the District Department of Health Care Finance (DHCF) concerning its procurement operations. Prior to OAG, he was chief procurement officer for the City of Alexandria, Virginia.
Taylor, before working for the City of Alexandria, had 10 years of financial services regulation experience in the District government serving in roles at DISB and an agency that would later merge with DISB, the Department of Banking and Financial Institutions (DBFI).
At DISB, he most recently served as general counsel, managing the Office of Legal Affairs. Taylor also directed DISB’s legislative and regulatory drafting programs, assisting in implementing the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Patient Protection and Affordable Care Act. He also previously served as DISB’s acting deputy commissioner and as the agency’s senior counsel. At DBFI, Taylor was general counsel and also managed DBFI’s revision of the District’s Banking Code and Predatory Lending law. Taylor also held positions in the Office of the Chief Financial Officer and the Council of the District of Columbia.
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