Edited sentence: CEO Vernon Hill resigned on June 29th 2007 due to numerous scandals concerning how his family members were awarded contracts.Commcerce Bank has a history of political corruption.Commerce Bank also paid the NASD a $600,000 fine, and exited the muni bond market.Commerce Bank is widely known to have hired a significant amount of politicians in the state of New Jersey.Glenn Holck and Stephen Umbrell approved loans to the city's then-treasurer, Corey Kemp, and others in order to get the inside track on city banking business.Hill is leaving as the bank agreed to a consent order with the Office of the Controller of the Currency regarding insider transactions.Joe Ripa is a political pawn of Commerce Bank executive, George Norcross who's brother is Chairmen of the Camden County Democrat Party.Kelly Ripa's father is Joe Ripa, a Democrat & Freeholder in Camden County, New Jersey.Much of Commerce Bank's sucess is the ability of the company to get no-bid government contracts for their insurance business as well as lucrative government deposits.On December 8, 2005, Commerce Capital Markets, Inc.Two Commerce Bank executives were found guilty in the Philadelphia City Hall Corruption Trial.Under the terms of the agreement, new leadership will work more closely with regulators in the future.Without admitting or denying the alleged violations, and subject to final NASD approval, Commerce consented to the NASD’s findings; and a $600,000 fine.consented to a proposed letter of Acceptance, Waiver, and Consent to settle alleged MSRB rule violations for conduct between 2000 and 2002