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New DISB Commissioner Confirmed by Council

Wednesday, November 4, 2009

New DISB Commissioner Confirmed by Council

In a unanimous vote, the Council of the District of Columbia yesterday voted to confirm Acting Commissioner Gennet Purcell as Commissioner for the District of Columbia Department of Insurance, Securities and Banking.

(Washington, DC) - In a unanimous vote, the Council of the District of Columbia yesterday voted to confirm Acting Commissioner Gennet Purcell as Commissioner for the District of Columbia Department of Insurance, Securities and Banking (DISB). Commissioner Purcell was appointed on August 28, 2009, by Mayor Adrian M. Fenty to lead the agency after the departure of Thomas E. Hampton.

“I am humbled by this show of support by the Council,” said Commissioner Purcell, “and I am appreciative of this opportunity given to me by the Mayor to serve as the District’s chief regulator of the financial-services industries.”

Commissioner Purcell, who served as DISB’s Deputy Commissioner since 2008, is an attorney and member of both the State of Maryland Bar and the Commonwealth of Virginia Bar. As deputy, her primary responsibilities included oversight of the agency’s core functional areas, including the divisions of Insurance, Securities, Banking, Fraud Enforcement and Investigation, and Risk Finance.
 
During her tenure, Commissioner Purcell has shown strong commitment to consumer protection and access to financial services.  In particular, she will be focused on realigning and centralizing the consumer protection and advocacy functions in the office. Also, she is working to ensure that financial-services in the District are more affordable and accessible; that the agency continues to protect and educate investors and consumers; that banking services are expanded to all communities; that partnerships in enforcement and investigation are enhanced; and that the momentum of captive insurance in the District is ongoing. 

Before her government-level appointments, Commissioner Purcell was a partner in her privately owned law firm where her areas of practice included estate planning, insurance claims law, surety bond financing and small business planning. She has also tenured as an associate lawyer with the law firm of ShawPittman where she was a member of the Securities, Mergers & Acquisitions divisions.
 
Commissioner Purcell earned her undergraduate degree in political science from York University, and her Juris Doctor degree from Howard University School of Law. She is a long-standing resident of the District of Columbia residing in the Shaw neighborhood in Ward 1 with her husband and their three children.