William D. Davis is resigning as California’s...
William D. Davis is resigning as California’s savings and loan commissioner, effective Tuesday, his office confirmed.
Davis’ resignation is not unexpected. The department has lost considerable responsibility in recent years, with nearly all of the state’s major savings and loans becoming federally chartered. It oversees only 55 thrifts, about a third what it supervised in the mid-1980s, and there is growing sentiment among state officials to combine it with the State Banking Department.
Davis, 54, joined the department in 1985 as chief deputy. He moved into the $95,052-a-year commissioner’s job when William J. Crawford left last June. Wallace Sumimoto, who was assistant commissioner, will serve as acting commissioner.
Get the L.A. Times Politics newsletter
Deeply reported insights into legislation, politics and policy from Sacramento, Washington and beyond. In your inbox three times per week.
You may occasionally receive promotional content from the Los Angeles Times.
