Banking - About the Division
The Division of Banking
- is responsible for the regulation of state chartered commercial banks, trust companies, and state licensed money transmitters;
- holds charter and license application hearings and issues rules and regulations affecting regulated institutions;
- staff conducts examinations of state chartered institutions and licensees;
- works closely with the Federal Reserve Bank and the Federal Deposit Insurance Corporation in the regulation of commercial banks and certain federally insured trust companies; and,
- is responsible for the enforcement of the Public Deposit Protection Act to protect public entity deposits held by state and national banks.
The State Bank Commissioner is the administrative head of the Division of Banking and is responsible for the day-to-day operation and all examinations and enforcement functions, subject to the policymaking and rulemaking authority of the Banking Board.
Information on the Division's budget, trend information for revenues, assessment base, and the cash fund balance, can be found in the Division's 2018 Annual Report. For additional information on the Division's expenditures and revenues, please visit the Transparency Online Project (TOP).