MSU President Mark Keenum says the chair will be supported by an endowment from which earnings will provide a salary supplement and additional financial support for activities of the its holder.
Lee, who died in 2008, retired in 1998 as president, chairman and CEO of Tower Loan.
Lee has been credited with overseeing development of the first stand-alone/online consumer loan computer system in the nation, the establishment of two credit insurance companies and the company’s expansion from 13 to 77 branch offices. He began his career with Aetna Finance in 1962.
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