State Banking

Minnesota Department of Commerce Names Sara Payne Assistant Commissioner of Enforcement

The Minnesota Department of Commerce announced the appointment of Sara Payne as Assistant Commissioner of Enforcement, effective November 19, 2025. Payne will lead the department's civil enforcement operations, overseeing multiple investigative teams and consumer complaint response.

Money Transmitter Sigue Corp. Settles Multistate, Refunds Due

The Minnesota Department of Commerce has joined a multistate settlement with failed money transmitter Sigue Corp. Affected customers can claim refunds by March 31, 2025. The settlement resolves Sigue's outstanding liabilities and requires the surrender of its money transmitter licenses.

Minnesota Joins Multistate Action Against Wise US for AML Violations

The Minnesota Department of Commerce, along with five other state regulators, has taken enforcement action against Wise US, Inc. for violations of its anti-money laundering (AML) compliance program. Wise agreed to pay a $4.2 million penalty and implement corrective actions to address deficiencies.

Oklahoma Banking Department Personnel Certifications and Digital Asset Kiosk Rules

The Oklahoma Banking Department announced new licensing requirements for digital asset kiosk operators, effective November 1, 2025, requiring them to be licensed as money transmitters. The notice also highlighted recent examiner certifications earned by department personnel.

Oklahoma Banking Department Reduces 2025 Assessment Rates for State-Chartered Banks

The Oklahoma State Banking Board has approved significant reductions in assessment rates for state-chartered banks for 2025. Banks with assets under $1 billion will see a 70% cut, while those over $1 billion will receive a 25% reduction, totaling over $5.2 million in savings.

Oklahoma Banking Department Personnel Longevity Awards

The Oklahoma Banking Department has announced longevity awards for its personnel, recognizing employees for their years of service. The notice details recipients for fifteen and ten years of service, presented by Mick Thompson.

Oklahoma Banking Department Newsletter: GSBC Trustees Meeting

The Oklahoma Banking Department issued a newsletter announcing that GSBC Trustees attended their spring meeting. The newsletter highlights the Graduate School of Banking at the University of Colorado Boulder and its upcoming annual school session.

Oklahoma Digital Asset Kiosk Operators Require Money Transmitter License

The Oklahoma Banking Department announced that effective November 1, 2025, all digital asset kiosk operators in Oklahoma will be required to obtain a Money Transmitter License under SB 1083. The department is developing a registration process for these kiosks.

Mayor Bowser Encourages Residents to Use Financial Resources

Mayor Bowser and the DC Department of Insurance, Securities and Banking (DISB) are encouraging District residents to utilize free financial resources. Programs like Bank on DC, Financially Fit DC, DC Opportunity Accounts, and the Student Loan Ombudsman offer tools for budgeting, saving, and financial planning.

State Farm Dividend Returns Over $7 Million to DC Auto Policyholders

The DC Department of Insurance, Securities and Banking (DISB) announced that State Farm will issue a special dividend to eligible District auto policyholders. This dividend, totaling over $7 million, reflects strong nationwide underwriting performance and will be distributed to policyholders with a Private Passenger Auto Voluntary Preferred policy in force on December 31, 2025.