Terence A. McGinnis
Commissioner of Banks,
Division of Banks
Terence A. McGinnis was appointed Commissioner of the Division of Banks by Governor Charlie Baker in September 2016. He oversees the supervision of more than 200 state-chartered banks and credit unions with assets in excess of $400 billion. His office is also responsible for the licensing and supervision of more than 9,000 non-depository licensees including mortgage lenders, mortgage brokers, mortgage loan originators, consumer finance companies, money services businesses, debt collectors, and loan servicers.
McGinnis was previously General Counsel and Secretary of Eastern Bank and a member of the bank’s management committee. Prior to joining Eastern Bank, he served in a variety of senior legal positions with both Bank of Boston and Fleet Bank, including heading the International Law Practice Group at FleetBoston Financial Corporation. Prior to his legal career in banking, he served as Associate Counsel with the Committee on Rules with the US House of Representatives in Washington DC.
McGinnis is a retired Navy Captain, having served both on active duty and in the Reserves with the US Navy. He held several command positions with the Naval Reserve and served in a number of senior military roles while activated for various U.S., international, and NATO exercises in Europe, Latin America, and the Far East. He was twice awarded the Meritorious Service Medal and the Navy Achievement Medal, among other military citations.
He has served as Chairman of the Board of Trustees of North Shore Medical Center (NSMC), an affiliate of Partner’s Healthcare, and is currently a member of the Board. He is Chairman of the Board of Directors of North Shore Physicians Group, a subsidiary of NSMC, and is a member of the Board of Directors of the Partners Community Physicians Organization, an affiliate of Partners Healthcare. He previously served as a member of the Board of Directors of Lynn Community Health Center in Lynn, Massachusetts.
He currently serves as Chairman and President of the Children’s Law Center of Massachusetts, Inc., a legal services corporation providing legal advocacy to low income children in the areas of education, care and protection, custody, health and welfare. In addition, he serves on the Board of Directors of Discovering Justice, a civic education organization connecting classrooms and courthouses for Boston’s inner city schools.
McGinnis is an honors graduate of Merrimack College, holds a Master of Arts degree from Boston College Graduate School, and received his law degree from Boston College Law School. He was also awarded an honorary Doctor of Humane Letters from Salem State University for his community service on the North Shore..