Michigan Gov. Rick Snyder has tapped the state's top financial and insurance regulator to become its next Treasurer.Kevin Clinton assumes his new position on November 1st, succeeding Andy Dillon, who resigned over publicity stemming from a divorce and other personal problems.
The department is responsible for collecting and managing billions in state funds, as well as overseeing the financial health of Michigan cities and school districts, including Detroit.
Clinton says his initial focus will be to meet with legislators and people at the Treasury department, and especially with Dillon, during the transition period.