COMMISSIONER OF BANKING

A commissioner that oversees all of the banks in a state. The commissioner of banking supervises the liquidation of insolvent banks and performs other administrative functions. In most states, the commissioner is not an elected position but is appointed, usually by the governor.

The banking commissioner serves a similar role as the insurance commissioner, and those who hold this office may have political aspirations. This post is the final state authority in the banking industry, and the commissioner usually has the power to levy fines and penalties against delinquent or insolvent institutions.