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Advance Financial Adds Legal Director Position to Oversee Compliance Issues

NASHVILLE – As a part of its ongoing efforts to navigate an increasingly complex regulatory environment, Advance Financial has hired Joseph A. Schmidt as its new director of compliance and legal affairs.

“The retail financial industry is strictly regulated both to ensure safety and soundness for the operating institutions and to protect the consumers of Tennessee,” Mike Hodges, Advance Financial CEO, said. “There are hundreds of federal, state, and local rules and statutes to which we adhere on a daily basis. Joseph will help us continue our record of strict compliance.”

Prior to joining Advance Financial, Schmidt served as the chief administrator of safety and soundness at the Tennessee Department of Financial Institutions. In this position, he oversaw the day-to-day operation of the department’s Licensing Section of the Compliance Division. Before moving into this position, Schmidt was an attorney for the department. He is a graduate of the University of Tennessee College of Law.

“Over the years, I have developed a broad knowledge of the regulatory framework that governs financial institutions in Tennessee,” he said. “I look forward to bringing that knowledge to bear to help Advance Financial continue to operate as one of the most transparent, clean, and well-managed financial institutions in this state. Everyone here takes that responsibility very seriously.”

“We are fortunate to have someone with Joseph’s experience and commitment coming to work for us,” Hodges said. “He will help Advance Financial become an even better provider of financial services.”

Advance Financial is the premier financial services provider in Middle Tennessee serving its customers 24/7 with nearly forty convenient locations. Advance offers FREE Money Orders, short-term loans, check cashing, bill payment, and wire transfer.