Florida's banking regulator abruptly resigns

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By: Associated Press
June 1, 2018

TALLAHASSEE, Fla. (AP) - Florida's top banking regulator is abruptly resigning after clashing with Chief Financial Officer Jimmy Patronis.

Drew Breakspear sent his resignation letter on Thursday evening to Gov. Rick Scott and the three members of the state Cabinet.

Breakspear has been the Office of Financial Regulation Commissioner for five years. His last day will be June 30.

Patronis first called for Breakspear's ouster in early May, but refused to say specifically why he wanted him to be removed from his job. He said that he was not responsive and did not cooperate with Florida's financial industry.

Politico Florida reported Thursday that public records and emails showed that companies and financial interests complained to Patronis' office after run-ins with Breakspear. Patronis' office also disagreed with Breakspear over how to handle a sexual harassment allegation against one of Breakspear's employees.

Patronis released a statement following news of Breakspear's resignation, reading, “I appreciate Commissioner Breakspear’s years of service to the state. During his time as commissioner, he had an understanding of the financial needs of Floridians, and it is my hope his years of service will help ensure a smooth transition for Florida consumers and stakeholders. I wish him all the best in his future endeavors.”

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