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| Colorado- Department of Regulatory Agencies, Banking division |
Mission
The Banking division is responsible for the regulation of state chartered commercial banks, trust companies, industrial banks, money order companies, money transmitters, and foreign capital depositories. The Division holds charter and license application hearings and issues rules and regulations affecting regulated institutions. Division staff conduct examinations of state chartered institutions and licensees. The Division works closely with the Federal Reserve Bank and the Federal Deposit Insurance Corporation in the regulation of commercial banks and industrial banks and certain federally insured trust companies. The Division is also responsible for the enforcement of the Public Deposit Protection Act to protect public entity deposits held by state and national banks.
The nine-member Colorado State Banking Board (Banking Board) is the policy and rulemaking authority for the Division. The Banking Board consists of four members who are executive officers of state banks, an executive officer of an industrial bank, an executive officer of a trust company, and two public members. The Governor appoints Banking Board members to four-year terms. Section 11-102-103, C.R.S. requires a balanced membership with respect to political party affiliation and geographic location. The Banking Board conducts monthly meetings that are open to the public, and the public is encouraged to attend.
The State Bank Commissioner is the administrative head of the Division, responsible for the day-to-day operation of the Division, including personnel matters, records, reports, systems, and procedures. The Commissioner is also responsible for all examination and enforcement functions of the Division, subject to the policy-making and rulemaking authority of the Banking Board. The specific duties and powers of the Commissioner are set forth in Section 11-102-102, C.R.S.
The Division is organized into two units, Examinations and Operations. Within the Examinations Unit, supervisory and examination responsibilities for the regulated entities are assigned to four Caseload Managers. The Caseload Managers supervise examination teams and are the primary Division contact for supervised institutions. The Operations Unit is responsible for applications, automation, policies and procedures, examination scheduling, enforcement of the Public Deposit Protection Act, program development, training, internal audit and review, oversight of the administrative staff, and accreditation by the Conference of State Bank Supervisors.
Location and Contact Information
E-Mail the Division of Banking
1560 Broadway, Suite 1175
Denver, CO 80202
(303) 894-7575 - Phone
(303) 894-7570 - Fax
Banking - Directories
The Banking division is responsible for regulation the following entities.
- Commercial Banks
- Industrial Banks
- Foreign Capital Depositories
- Money Order Companies
- PDPA Eligible Depositories
- PDPA Escrow Institutions
- Trust Companies
Use the following link to access information and listings of entities the division regulates.
http://www.dora.state.co.us/banking/regulatedinstitutions/regulatedinstitutions.htm.
Complaint Process
Consumer complaints against any of the institutions regulated by the Division should be in writing, providing as much detail as possible. The following information is essential to filing a complaint:
- The name of the institution and the name of any person(s) at the institution with whom the complainant has had contact. Include telephone number(s) and addresses.
- A complete description of the complaint and any efforts that have been made to resolve the complaint directly with the institution.
- Copies of any available documentation supporting the complaint and efforts toward resolution.
- Any suggestions regarding a preferred resolution of the complaint.
- A referral letter, along with a copy of the complaint, will be forwarded to the regulated institution. In the referral letter, the institution is requested to respond in a timely manner. Upon receipt of the response from the institution, Division staff will review the complaint and the response from the institution. The Division will respond to the complainant, with a copy to the regulated institution, explaining the findings and the resolution of the complaint.
Additional Information
PLEASE NOTE: The Division of Banking IS NOT the regulatory agency for NATIONALLY CHARTERED BANKS. For complaints against nationally chartered banks, please write to the COMPTROLLER OF THE CURRENCY at the following address:
Office of the Comptroller of the Currency
Customer Assistance Group
1301 McKinney Street, Suite 3710
Houston, TX 77010
Telephone: 1-800-613-6743
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 division is responsible for enforcing.
http://www.dora.state.co.us/banking/rules®ulations/rulesregulations.htm.
The following is a sample list of these regulations.
- Commercial Bank Rules
- Electronic Funds Transfer Rules
- Foreign Capital Depository Rules
- Industrial Bank Rules
- Money Order Company Rules
- Public Deposit Protection Act Rules
- Trust Company Rules
Mortgage Brokers
Mortgage brokers in Colorado are supervised by the Division of securities, department of regulatory agencies. Use the attached link to access the Colorado department of regulatory agencies, securities division for current information.
http://www.dora.state.co.us/securities/.
Complaint with Mortgage brokers
For complaints with Mortgage Brokers or lenders write to the following please write to the following address:
Colorado Mortgage Lender Association
5660 Greenwood Plaza Boulevard, Suite 512
Englewood, CO 80111
Consumer Help: 303-830-3834
Office: 303-773-9565
For complaints concerning second mortgage lenders/finance companies, please write to the following address:
Uniform Consumer Credit Code
Colorado Department of Law
1525 Sherman Street, 5th Floor
Denver, CO 80203
Telephone: 303-866-4494
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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