Advance Financial hires legal director to supervise compliance issues
Nashville, Tennessee As a part of its efforts to make Advance Financial fully compliant with all financial laws and statues, the company recently appointed Joseph A. Schmidt as Director of Compliance & Legal Affairs. Mike Hodges, CEO of Advance Financial, said, “The retail financial industry is strictly regulated to ensure the safety of the operating institutions and to protect the customers of Tennessee.” He further added that there were hundreds of federal and state statutes to which AF already adhered to and Joseph would enhance their efforts. Before becoming a part of Advance Financial, Schmidt served at the Tennessee Department of Financial Institutions as the Chief Administrator for Safety and Soundness. His duties included overseeing the day-to-day activities of the Licensing Section of the Compliance Division. Prior to this, Schmidt was an attorney for the department. He graduated from the University of Tennessee, College of Law. “Over the years, I have developed a deep understanding of the regulations governing the financial institutions of Tennessee,” he said. “I am looking forward to bringing this knowledge to Advance Financial and help it continue its operations as a well-managed transparent financial institution in Tennessee.” “We are grateful to have someone like Joseph with his expertise and experience coming to work with us,” Hodges said. “He will help Advance Financial become better than ever.” Advance Financial is a service provider in the state of Tennessee offering 24/7 financial services such as lines-of-credit, pre-paid cards, wire transfers, money orders, etc.