Oklahoma State Banking Department
Great Seal of Oklahoma
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| Agency overview | |
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| Formed | 1907 |
| Headquarters | 2900 N Lincoln Boulevard Oklahoma City, Oklahoma |
| Employees | 43 unclassified |
| Annual budget | $6.2 million |
| Ministers responsible |
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| Agency executive |
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| Website | [1] |
The Oklahoma State Banking Department (OSBD) is an agency of the state of Oklahoma. The Banking Department is responsible for regulating Oklahoma's banking system, including state-chartered banks, credit unions, savings and loan associations, and trust companies, as well as [(money transmitters)] and money order companies. The department also handles consumer complaints involving state-regulated financial institutions.
The Banking Department is led by a State Banking Commissioner who is appointed by the Governor of Oklahoma with the consent of the Oklahoma Senate to serve a four-year term. Assisting the commissioner is the State Banking Board, which consists of six member appointed by the governor and the commissioner as chair.
The current State Banking Commissioner is Mick Thompson, a former Oklahoma State Representative who has served in that position since September 1, 1992, when he was appointed by Governor David Walters. He has since been reappointed by Governors Frank Keating, Brad Henry and Mary Fallin in 1996, 2000, 2004, 2008 and 2012.
With the granting of statehood on November 11, 1907, Article XIV of the Oklahoma Constitution created The Banking Department. Governor Dewey F. Bartlett was chairman of the Board and Herbert H. Smock was the Department's first Banking Commissioner.
The department is under the supervision of the State Banking Board and its chairman, who is the State Banking Commissioner. The commissioner is appointed by the Governor of Oklahoma to serve a four-year term. The commissioner is assisted in managing the department by a deputy commissioner and two assistant commissioners.
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