Finance News

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March 27, 2009

Gov. Nixon nominates Richard J. Weaver as Missouri's top bank regulator

Jefferson City, Mo. - Gov. Jay Nixon today appointed Richard J. Weaver to the position of Commissioner of the Missouri Division of Finance. In this position, Weaver will serve as Missouri's top regulator for many of the state's financial industries, including banks, payday lenders, car title lenders and others.

Weaver is a 24-year veteran of the Division of Finance, he has served as the division's deputy commissioner since 2004 and has served as acting commissioner since January of this year. The Division of Finance is a part of the Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP).

"In my time as department director, it has quickly become apparent to me that few people know Missouri's banking system better than Rich Weaver," said DIFP Director John M. Huff. "Rich is a seasoned veteran respected by the banking community and committed to consumer protection and a healthy and competitive banking industry in our state."

"In Rich Weaver, I am nominating a tough but fair regulator to lead the Division of Finance," Gov. Nixon said. "My biggest priority as Governor is transforming Missouri's economy, and Rich will play a key role in ensuring Missouri continues to enjoy a strong banking system that protects account holders, their financing opportunities and their rights as borrowers."

"Having served in the Division of Finance since 1985, I have seen remarkable changes in Missouri's financial industries," said Weaver. "I'm honored to be part of Gov. Nixon's commitment to transforming Missouri's economy, and a critical piece of that process is making sure consumers and businesses have access to credit and a robust banking system."

Weaver is a Jefferson City native. He has a bachelor's degree in business administration and accounting from Lincoln University in Jefferson City and a graduate degree from the Graduate School of Banking in Boulder, Colo. Weaver lives in Jefferson City with his wife and daughter.

The Governor appoints the Commissioner of Finance with the advice and consent of the state Senate.

About the Missouri Department of Insurance, Financial Institutions & Professional Registration

The Missouri Department of Insurance, Financial Institutions and Professional Registration (DIFP) is responsible for consumer protection through the regulation of financial industries and professionals. The department's seven divisions work to enforce state regulations both efficiently and effectively while encouraging a competitive environment for industries and professions to ensure consumers have access to quality products.

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