Through a formal resignation letter submitted to acting Governor Richard J. Codey, Holly Bakke gave up her post as the Banking and Finance Commissioner of New Jersey on February 1, 2005. The woman who has served the state for three years executed a leadership that has protected the citizens from predatory lenders. She also pushed for programs that gave more choices in coverage, cost and companies in various insurance policies.

During Holly Bakke’s term the state of New Jersey has enacted auto insurance reforms known their toughest penalties for fraud. Consumer protection programs were also introduced and have been recognized in the national level.  Moreover, her administration also pushed innovative methods for trimming the rank of uninsured motorists and put lower pressure on rates for good drivers. These policies had an immense impact to the state; leading to 300 million dollars of rate reduction to drivers and 41, 000 newly insured drivers. Meanwhile, the predatory lending law imposed during her term provided a fair place for lenders to do business and more licenses were approved for this sector.  Healthcare coverage was given prior attention benefiting citizens especially the uninsured and the challenged.

In her resignation letter Holly thanked the governors for their support. She also extended her gratitude to the state’s legislative division for their knowledge and skills imparted to her. She acknowledged her staff who sustained their efforts to make sure the policies was properly executed. In the end Holly Bakke thanked the citizens for the inspiration they gave her to push all the services they deserve to have.