AP NEWS

Arizona insurance and banking regulator steps down

February 11, 2020 GMT

PHOENIX (AP) — Arizona’s top banking and insurance regulator is stepping down for a job in the private sector.

Gov. Doug Ducey announced Tuesday that Keith Schraad will leave his post Thursday as head of the Arizona Department of Insurance and Financial Institutions. He did not disclose where Schraag will work.

Ducey named Christina Corieri as the agency’s interim director during a national search for a permanent leader. Corieri is a senior policy adviser to Ducey focused on health and human services.

Schraad has overseen the pending merger of the departments of Insurance and Financial Institutions, which becomes official this summer. The combined agency will regulate insurance companies and agents, as well as a wide variety of financial firms including debt collectors, lenders, mortgage brokers, real-estate appraisers, escrow agents, credit unions and banks.