SPRINGFIELD, Ill.–Deborah Hagan has been appointed secretary of the Illinois Department of Financial and Professional Regulation.
According to the Illinois Credit Union League, Hagan has been an advocate for Illinois consumer rights for over 36 years, and in her prior role as chief of the Consumer Protection Division of the Illinois Attorney General’s office, was instrumental in defending the interests of Illinoisans in critical areas such as mortgage origination and servicing, student loan services, debt collection, identity theft, and other areas of financial risk.
Hagan has helped to recover billions of dollars in restitution for victims of consumer fraud as well, the ICUL said.
The league said it has worked closely with Hagan
over the past 30 years.
“Debbie has always brought insight and a willingness to listen and reach a reasonable resolution in relation to any issue we have addressed,” emphasized by Stephen Olson, ICUL’s former general counsel who retired at the end of 2018 but continues to serve ICUL in its advocacy efforts as an independent contractor. “Her experience, judgement and perspective will help credit unions fulfill their mission of serving their members. She understands and respects the unique structure of credit unions.”
Francisco Menchaca remains Illinois’ director of the Division of Financial Institutions.