The Federal Housing Finance Agency (FHFA) announced two promotions, Andre Galeano as the deputy director of the Division of Enterprise Regulation, and Louis “Lou” Scalza as acting deputy director of the Division of Federal Home Loan Bank Regulation (DBR). The two will oversee and direct all examination activities such as developing examination findings and preparing the annual examination reports for their regulated entities.
Galeano originally trained as a bank examiner at the Federal Deposit Insurance Corp. (FDIC) before joining one of the FHFA’s predecessor agencies and eventually the FHFA. During his 20 years of experience, he has served as the associate director for credit risk, examiner-in-charge of Fannie Mae, associate director for examinations, and most recently the deputy director of DBR.
“Andre has decades of housing finance supervisory experience and effectively led the Division of Bank Regulation throughout the COVID-19 crisis, ensuring the Federal Home Loan Bank System fulfilled its mission in a safe and sound manner,” FHFA acting Director Sandra Thompson said in a release. “His seasoned leadership will help the Division of Enterprise Regulation continue to ensure the safety and soundness of Fannie Mae and Freddie Mac.”
Scalza also began his career at the FDIC before joining one of the FHFA’s predecessors, the Federal Housing Finance Board, in 2004. He has more than three decades of experience in financial institution examination and has served as the examiner-in-charge at the Federal Home Loan Bank of Indianapolis, led the development of examination and supervisory guidance in DBR’s policy and program development unit, and established and managed FHFA’s Office of Quality Assurance. Most recently he was the associate director for examinations.
“Like Andre, Lou is a time-tested financial regulator,” Thompson said. “Whether during his time at FDIC or FHFA, Lou has an impressive track record and will serve our agency well as head of our Division of Bank Regulation.”