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| North Carolina – Banking Commission |
The Office of the Commissioner of Banks, together with the North Carolina Banking Commission, is responsible for the chartering and regulation of North Carolina's state banks and trust companies, as well as registration/licensing of various financial institutions operating in North Carolina, including Check-Cashers, Consumer Finance companies, Mortgage Bankers and Mortgage Brokers, Money Transmitters and Refund Anticipation Lenders.
The Commissioner of Banks regulates and supervises banking activities under Chapter 53 of the General Statutes of North Carolina. The primary responsibilities of this office are to ensure the safe conduct of banking business, to maintain public confidence in state-chartered banks, and to protect the banks' depositors, debtors, creditors and shareholders.
The North Carolina Banking Commission provides rules for the guidance of the Commissioner of Banks as he supervises state-chartered banks and enforces the banking laws of North Carolina. It hears appeals resulting from the Commissioner's actions and considers applications for new bank charters and bank mergers.
The Commission according to law must have 22 members, including the State Treasurer, who is chairman and ex-officio member. The Commission is selected from a broad spectrum of economic matters. To provide expertise in banking, six practical bankers, persons who hold managerial or supervisory positions in a bank, are appointed. The Governor appoints five practical bankers while the President Pro Tempore of the Senate appoints one.
In order to represent fully the "consumer, industrial, manufacturing, professional, business and farming interests of our State" (North Carolina General Statute 53-92), twelve members must represent the borrowing public. The Governor appoints eleven public members, and the Speaker of the House appoints one.
Due to the merger of the Savings Institutions Division into the Banking Commission, 2 members of the Commission must be CEO's of State saving institutions. In addition, the Governor can appoint one member who can be either a practical banker or a member of the borrowing public.
Contact and Location Information
316 W. Edenton Street, Raleigh, NC 27603
Mailing Address
4309 Mail Service Center, Raleigh, NC 27699-4309
Phone & Fax
Phone: (919) 733-3016
Fax: (919) 733-6918
Complaints
Use the following link to access information on how to file a complaint against a financial institution regulated by the North Carolina Commissioner of Banks.
http://www.nccob.org/NCCOB/ConsumerAssistance/consumer.htm
Since complaints require a signature, the form must be mailed in, though it can be completed on-line and printed out. However, before completing the form, check that the company is actually regulated by the Commissioners office by reviewing the entities regulated section below
Entities Regulated
Subject to some exceptions, the OCOB regulates the following providers of financial services to North Carolina residents:
- State-Chartered Banks, Savings Banks and Trust Companies
- Check Cashers
- Mortgage Lenders
- Mortgage Brokers
- Mortgage Loan Officers
- Money Transmitters
- Consumer Finance Companies
- Refund Anticipation Lenders
- Reverse Mortgage Lenders
Mortgage Companies
Effective July 1, 2002 North Carolina has a new law regulating mortgage lending. The Mortgage Lending Act (NCGS Chapter 53, Article 19A), requires that any business engaged in mortgage lending be licensed annually by the NC Commissioner of Banks as either a Mortgage Lender or a Mortgage Broker. In addition, any individual employed by a licensed Mortgage Lender or Mortgage Broker acting as a loan officer must have a Mortgage Loan Officer License. Some lenders, primarily banks and credit unions, are exempt from licensing, but must file and keep current their information contained in their Claim of Exemption
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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