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| Kentucky- Office of Financial Institutions |
The Office of Financial Institutions (OFI) is the state agency responsible for chartering, licensing, and registering various financial institutions, securities firms, and professionals, operating in Kentucky. Included in the industries and individuals for which it has oversight are: State Chartered Banks, Trust Companies, State Chartered Credit Unions, Savings and Loan Associations, Consumer Loan Companies, Industrial Loan Companies, Mortgage Loan Companies, Mortgage Loan Brokers, Check Cashers/Deferred Deposits, Title Pledge Lenders, Sellers of Money Orders, State Licensed or Registered Securities, Securities broker-dealers/agents/issuers, and Investment Advisors.
Use the following link to access the Kentucky Office of Financial Institutions website for more current information.
http://www.dfi.state.ky.us/
Mission
“The Mission of the Office of Financial Institutions is to serve the public through effective and efficient regulation that promotes consumer confidence and economic growth”.
Putting the Mission to Work In fulfilling its mission, the Office is dedicated to serving the suppliers, as well as the users, of financial services and assuring a stable market which brings the two together.
The Office also works to promote economic growth through increased capital, whether by initial capitalization of private investors or retained earnings and by flexible policies, laws and regulations that provide for competition within the industries.
Primarily through the examination process the Office determines if Kentucky's state-regulated financial institutions and securities entities are exercising safe and sound practices and/or complying with applicable laws and regulations. Depository institutions are evaluated in the areas of management, quality of assets, capital adequacy, earnings, and liquidity and are checked for compliance with laws and regulations. Securities entities and non-depository institutions' examiners focus primarily on regulatory compliance and consumer protection issues.
Contact and Location Information
The Kentucky Department of Financial Institutions
1025 Capital Center Drive, Suite 200
Frankfort, Kentucky 40601
Telephone: 502-573-3390
Toll-Free: 1-800-223-2579
Fax: 502-573-8787
Complaints
The Kentucky Office of Financial Institutions maintains a toll free number for consumers to call to report fraud and receive assistance in filing a complaint against a Kentucky financial institution regulated by the Office (1-800-223-2579).
OFI's fax number is (502) 573-8787.
For mailing complaints, the Division offices are located in the Office of Financial Institutions, at …
1025 Capital Center Drive,
Suite 200, Frankfort,
Kentucky 40601.
Entities Regulated by the Office of Financial Institutions
The following entities are regulated by the office of financial institutions…
- Chartered Banks,
- Trust Companies,
- State Chartered Credit Unions,
- Savings and Loan Associations,
- Consumer Loan Companies,
- Industrial Loan Companies,
- Mortgage Loan Companies,
- Mortgage Loan Brokers,
- Check Cashers/Deferred Deposits,
- Title Pledge Lenders,
- Sellers of Money Orders,
- State Licensed or Registered Securities,
- Securities broker-dealers/agents/issuers
- Investment Advisors.
Laws and Regulations
Use the attached link to access more current information on regulations the Office is responsible for enforcing
http://dfi.ky.gov/legislation.htm
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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