Commissioner Anne Head Announces Confirmation of Superintendents for Maine’s Department of Professional and Financial Regulation

AUGUSTA, MAINE – Commissioner Anne L. Head has announced that the Superintendent of the Bureau of Insurance, the Superintendent of the Bureau of Financial Institutions, and the Superintendent of the Bureau of Consumer Credit Protection were unanimously confirmed by the Maine State Senate on March 24th.  All three agencies are part of the Department of Professional and Financial Regulation.

Each superintendent was nominated for reappointment by Governor John E. Baldacci earlier this month.  The nominations received a public hearing before the Insurance and Financial Service Committee on March 22nd.  Insurance Superintendent Mila Kofman, Superintendent Lloyd P. LaFountain III of the Bureau of Financial Institutions, and Superintendent William N. Lund from the Bureau of Consumer Credit Protection each received the Committee’s strong support.

“The people of Maine have been very well-served by Superintendents Lund, LaFountain and Kofman,” Commissioner Head commented.  “I’m delighted Governor Baldacci nominated them for re-appointment and the State Senate gave their nominations unanimous votes.”

Bureau of Insurance:  Superintendent Kofman, who has served in her current capacity since 2008, has emphasized transparency, consumer outreach, and open lines of communications with the insurance companies and individuals regulated by Maine’s Bureau of Insurance.  She has earned praise for her openness, commitment to fairness and thoroughness in the review of regulated entities, and desire to make sure the Bureau does all it can to assist Maine’s insurance consumers.

Prior to serving as Superintendent, Ms. Kofman was an Associate Research Professor and Project Director at the Georgetown University Health Policy Institute.  She studied state private health insurance market reforms, regulation and financing strategies.  Kofman was the first in the nation to document the most recent cycle of health insurance scams.

Earlier in her career, Kofman was a federal regulator at the U.S. Department of Labor.  She worked on legislation and implemented HIPAA and related laws.  In 2000, she was appointed Special Assistant to the Senior Health Care Advisor to the President at the White House to work on legislative and regulatory initiatives — the Patient’s Bill of Rights, long-term care insurance, nursing home reform, and ERISA reform.  In 2000, she received the Labor Secretary’s Exceptional Achievement Award.


Page 2,  Department of Professional and Financial Regulation’s Superintendents Confirmed

Bureau of Financial Institutions:  Superintendent LaFountain oversees and manages the regulation of state-chartered financial institutions—banks, credit unions and nondepository trust companies.  He also serves as liaison to several federal regulatory agencies, and maintains working relationships with financial institutions and trade associations.  LaFountain has emphasized thorough, professional examinations of financial institutions and expanded consumer outreach.  He has been recognized for a strong commitment to ensuring the soundness of state-chartered banks and credit unions, while also making sure Maine people have easy access to his agency’s resources and services.

Prior to becoming Superintendent, LaFountain was a partner in the general practice law firm of LaFountain & LaFountain in Biddeford.  He concentrated on cases involving banking, child protection, real estate, domestic relations and probate law.  LaFountain has litigation experience in Maine District, Probate and Superior Courts, as well as appellate work in the Law Court.

LaFountain’s previous public service includes one term in the Maine House of Representatives and four terms in the Maine State Senate.  While in the Legislature, he served on several committees, including the Labor Committee, the Judiciary Committee, and the Insurance and Financial Services Committee, which he chaired during his last term in the State Senate.

Bureau of Consumer Credit Protection:  Superintendent Lund, who has served as head of this state agency since 1987, has been widely recognized by representatives of both the business community and consumer advocacy organizations for his tireless work on behalf of Maine consumers, as well as his fairness in regulating the companies and individuals who must register or be licensed by the Bureau.

First appointed to lead the Bureau of Consumer Credit Protection in 1987 by Governor John McKernan, Lund has been reappointed by Governors Angus King and John Baldacci.  He has served as member and chair of the Federal Reserve Board’s Consumer Advisory Council in Washington, DC, and is a current member of the New England Consumer Advisory Group, sponsored by the Federal Reserve Bank of Boston.

The Bureau of Consumer Credit Protection—which regulates non-bank lenders, creditors and collectors, and responds to consumer complaints and inquiries—was recently assigned primary responsibility for administering the state’s new home foreclosure prevention program.  As a result, Superintendent Lund and his staff have increased the number of counselors available free of charge to homeowners in danger of default or foreclosure on their residences.

The Department of Professional and Financial Regulation protects the public and encourages sound business practices through impartial regulation of insurers, financial institutions, creditors, investment providers, and numerous professions and occupations. Consumers can reach the Department online at  The Bureau of Insurance can be contacted toll-free by calling 1-800-300-5000; the Bureau of Financial Institutions can be reached at 1-800-965-5235; and the Bureau of Consumer Credit Protection can be contacted by calling 1-800-DEBT-LAW (1-800-332-8529).


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