Insider to fill state post Bruenn chosen as regulator of credit, banking

AUGUSTA – Gov. John Baldacci, ending an extended period of deliberation, has turned to an agency insider for the post of Maine’s top business regulator.

Christine Bruenn, who already has served a stint as acting commissioner of the Maine Department of Professional and Financial Regulation, was nominated Friday to assume the position permanently.

Bruenn was named to lead the department last summer, taking over after Commissioner Robert Murray was nominated for a judgeship. Acting positions are temporary, and earlier this year, another veteran department official, Anne Head, became the interim leader.

As department chief, Bruenn would oversee state regulation of securities, insurance, banking and consumer credit. Additionally, she would be responsible for 41 professional licensing boards and commissions.

The nomination is subject to review by the Legislature’s Insurance and Financial Services Committee and confirmation by the Senate.

“Christine Bruenn brings an outstanding record working with Maine employers and consumers,” Gov. John Baldacci said in a prepared statement. “The trust she’s earned from Maine businesses and her record of service to the people of Maine give me great confidence in her ability to lead the department and help Maine’s economy grow. She will be an excellent advocate for consumers and will promote a sound Maine business climate and attract jobs.”

According to biographical material supplied by the Baldacci administration, Bruenn began as an investigator with the state Office of Securities in 1987 and became a supervisor one year later. In 1997, she became the state’s securities administrator.

Bruenn, who lives in Jefferson, holds an undergraduate degree from Michigan State University and a law degree from Memphis State University, according to her resume.

One month ago, Baldacci announced that he was nominating former state lawmaker Lloyd LaFountain, a Biddeford lawyer, for the post of superintendent of the Bureau of Financial Institutions.

The superintendent serves as the state’s chief regulator of state-chartered banks, savings and loan associations and credit unions.

Confirmed by the Senate, LaFountain is expected to begin his new job in early May.