DORA Executive Director appoints Patty Salazar as State Bank and Financial Services Commissioner
DENVER -- (March 7, 2018) -- Colorado Department of Regulatory Agencies (DORA) Executive Director Marguerite Salazar announced today that she has appointed Patty Salazar as State Bank and Financial Services Commissioner, effective March 8, 2018.
In this role, Commissioner Patty Salazar will oversee two separate financial divisions at DORA — the Division of Banking and the Division of Financial Services. The Division of Banking regulates the business of state chartered and/or licensed financial institutions, including state commercial banks, money transmitters and trust companies. The Division of Financial Services regulates state-chartered credit unions and savings and loan associations, the administration and enforcement of the Savings and Loan Public Deposit Protection Act, and certain financial activities of state life care institutions.
“Patty comes from a strong financial regulatory background working for California’s Department of Business Oversight. Her experience and perspective on the important roles that the banking and financial services industries serve in our state’s economy will be an asset for both industries,” noted Executive Director Salazar.
Commissioner Patty Salazar was appointed as Colorado Financial Services Commissioner in 2015. In 2016, she was appointed as DORA Deputy Executive Director, and in 2017 was re-appointed as Interim Financial Service Commissioner. At the California Department of Business Oversight, she served as a deputy commissioner responsible for public affairs, policy development, performance planning and managing the department’s consumer services office. Previously she served as the state legislative and regulatory lobbyist for the California and Nevada Credit Union Leagues. Prior to joining the trade association, she served as a consultant to the organization on public affairs and strategies related to federal and state legislation affecting the financial services industry.
“As the DORA Deputy Executive Director and the former Commissioner of Financial Services, I have taken seriously the need to engage industry and consumers alike to provide for a competitive yet balanced regulatory landscape,” said Patty Salazar. “I am honored to continue to serve the public as the Commissioner of Banking and Financial Services and to work with the Financial Services Board, the State Banking Banking Board, and the staff of both divisions to help ensure that all consumers have access to safe and reliable financial services throughout the state.”
Executive Director Marguerite Salazar thanks Ken Boldt who has served as Acting State Bank Commissioner and will resume his previous position as Deputy Commissioner in the Division of Banking.
Patty Salazar replaces Chris Myklebust who left the position on November 30, 2017.