It has been reported that Richard J. Welsh, a commissioner with the Pennsylvania Harness Racing Commission, has resigned.

The news comes courtesy of a report by The Pittsburgh Post-Gazette, which explains that Welsh is stepping down because of new policies at Wells Fargo, where he is a senior vice president.

"My employer has instituted a new policy which does not permit me to serve in any elected office or appointed board or commission," Welsh wrote in a letter sent this past Monday to Pennsylvania Governor Tom Corbett.

Welsh's resignation reduces the number of commission members from three to two, and comes as a deadline nears for funding to be secured for the proposed Valley View Downs in Lawrence County.

(With files from The Pittsburgh Post-Gazette)