Gov. Jay Nixon has appointed Rich Weaver as Missouri's new finance commissioner.
Weaver, a Jefferson City native, has been serving as acting commissioner since January, when Nixon fired former finance commissioner Eric McClure, who lives east of Springfield. McClure had been commissioner since January 2003, when Democratic Gov. Bob Holden appointed him to the post.
Weaver - like his predecessor - is a Division of Finance veteran. He has been with the division 24 years, and was named deputy commissioner in 2004. As finance commissioner, Weaver oversees financial institutions regulated by the state - a group that includes state-chartered banks, mortgage brokers and payday lenders.
"In Rich Weaver, I am nominating a tough but fair regulator to lead the Division of Finance," Nixon said in a news release. "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."
The Division of Finance is part of the Missouri Department of Insurance, Financial Institutions and Professional Registration.
In 2007, Weaver was tapped to lead a statewide mortgage fraud task force consisting of personnel from the Insurance Consumer Affairs Division, the Real Estate Commission and the Real Estate Appraisers Commission.
"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," DIFP Director John M. Huff said in the release. "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."
Weaver 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. He lives in Jefferson City with his wife and daughter.
The governor appoints the finance commissioner with the advice and consent of the state Senate, according to the release. The Senate is expected to confirm Weaver's appointment this week.
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