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| Arkansas - State Banking Department |
The Arkansas state banking department was created by Act 60 of 1913 and is charged with regulating the safety and soundness of the state financial institutions for which it serves as primary regulator, in order to assure public confidence in these institutions.
Use the attached link to access the official website of the Arkansas state banking department.
http://www.state.ar.us/bank/banking1.html.
Location and Contact Information
The state banking department offices can be found at the following locations.
LITTLE ROCK OFFICE
Sedgwick Center
400 Hardin Drive, Suite 100
Little Rock, AR 72211
Phone: 501-324-9019 - Fax: 501-324-9028
FAYETTEVILLE REGIONAL OFFICE
2013 Green Acres Road
Fayetteville, Arkansas 72703-2618
Phone: 501-442-0936 - Fax: 501-442-0717
JONESBORO REGIONAL OFFICE
924 South Main
Jonesboro, Arkansas 72401-3597
Phone: 870-972-1744 - Fax: 870-972-1762
Rules, Regulations and Policies
The following link will take you to the states banking rules, regulations and policies that are in effect and that the state banking department is responsible for enforcing..
http://www.state.ar.us/bank/ruleregspolicies.html.
Banking Laws
There are many laws banks have to uphold. The following link will take you to the Arkansas state laws.
http://www.state.ar.us/bank/thelaw.html.
Complaints
Filing Process
All formal complaints must be submitted in writing. Such complaints must be signed, dated, and must have a phone number and return address. The complaint does not have to be typed, although this is preferred. Hand-written complaints are acceptable if they are legible.
The complaint should state "this is a formal written complaint against (name of bank, location)." Then it should briefly describe the complaint, being specific to warrant a response. In the complaint, state what specific action is desired on the part of the bank to correct the complaint. Attach copies only of documentation necessary to substantiate the complaint as outlined in the letter.
The complaint should be addressed to the Arkansas State Bank Department, 400 Hardin Road, Suite 100, Little Rock, Arkansas 72211, Attention: Jackie Williams, Financial Analyst Supervisor.
A reasonable amount of time should be allowed for the bank to respond to this Department
Use the attached link to get more information on the complaint filing process.
http://www.state.ar.us/bank/complaints.html.
Banking - Directories
Banking departments generally have directories or listings of the financial institutions of which they supervise. Use the attached link to access the listings for the Arkansas state banking department.
http://www.state.ar.us/bank/InstitutionList.html.
Mortgage Brokers
Mortgage brokers in Arkansas are regulated by the Securities Department as are the following entities…
- Broker Dealer Firms
- Check Issuers
- Investment Advisers
- Foreign Savings & Loan Brokers
- Securities Registrations
- Mortgage Bankers, Brokers, Servicers
- Securities Exemptions
- Perpetual Care Cemeteries
- Mutual Funds
- State Chartered Credit Unions
- State Chartered Savings and Loan Associations
Mission Statement - Securities Departments
“To protect the financial well being of Arkansas citizens and promote an environment where the financial and capital markets function efficiently and without unnecessary regulatory impediments”.
Use the attached like to find out more about the registration process required for Mortgage Brokers in Arkansas.
http://www.state.ar.us/arsec/.
Identity Theft
When it comes to identity theft, the old adage applies, an ounce of prevention is worth a pound of cure. The following are useful tips and information for consumers to avoid identity theft:
- Be careful about giving out your personal information. Don’t give out any personal information over the phone unless you initiate the call;
- Pay attention to your billing cycles. If you don’t get your bills in the mail, be suspicious;
- Be cautious about where you leave your information. Think of your bills as cash, don’t leave them lying around;
- Guard your mail from theft. Be vigilant about checking your mail promptly after it has been delivered. Don’t let it pile up while you are away;
- Watch what you throw away. What may be garbage to you can be stolen treasure to an identity thief;
- Travel light. Don’t carry more checks or credit cards than you need. That will minimize the damage if your wallet is lost or stolen; and
- Check your credit report on a regular basis. Order a copy of your credit report from the three major credit reporting agencies at least once a year and make sure that the information they have is correct.
- The agencies are:
Experian 1-800-397-3742
Equifax 1-800-525-6285
Trans Union 1-800-680-7289
If a consumer is a victim of Identity theft, he/she should:
- Contact creditors by phone and by certified mail;
- Stop payment on checks and close bank accounts;
- Contact the Department of Motor Vehicles and your local postal inspector;
- File a report with your local police department; and
- Call the FTC’s fraud hotline at 1-877-IDTHEFT.
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