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| North Dakota - Department of Financial Institutions |
Mission
“To maintain public confidence in North Dakota financial institutions by ensuring the financial industry operates in a safe and sound manner while complying with applicable rules and laws”.
The Department of Financial Institutions has charge of the execution of all laws relating to state banks, trust companies, building and loan associations, mutual investment corporations, mutual savings corporations, banking institutions, and other financial corporations, exclusive of the Bank of North Dakota, and all credit unions organized or doing business under the laws of this State. The Department also issues licenses to money brokers, collection agencies, small loan companies, consumer finance companies, deferred presentment service providers, agents for deposits, and sale of check businesses.
The Department is committed to maintaining a standard of excellence in meeting its regulatory responsibilities. In 1993, the Department was accredited by the Conference of State Bank Supervisors (CSBS). In 1998, the Department was re-accredited by CSBS. In 2000 the Department was accredited by the National Association of State Credit Union Supervisors (NASCUS). Accreditation is only accorded to state regulatory agencies that meet minimum standards established by CSBS and NASCUS; the agency is subject to a re-accreditation process every five years after the initial accreditation.
The Commissioner, in conjunction with the State Banking Board (seven members) and State Credit Union Board (five members), provides supervisory authority over North Dakota state-chartered banks and credit unions. All members of these Boards are appointed by the Governor. The Commissioner is appointed by the Governor and confirmed by the North Dakota Senate and serves as the Chairperson of each Board.
Use the following link to access current information on the Department of Financial Institutions.
http://www.state.nd.us/dfi/
Contact and Location Information
2000 Schafer Street, Suite G
Bismarck, ND 58501-1204
Phone Numbers
Information (701) 328-9933
Facsimile (Fax) (701) 328-9955
E-mail Address dfi@state.nd.us
Complaints
Use the attached link to access information for instructions on how to file a complaint against one of the entities regulated by the Department of Financial Institutions.
http://www.state.nd.us/dfi/forms/index.html
Entities Regulated
The following types of entities operate within the State of North Dakota and are supervised by our agency:
- State-chartered banks,
- Credit unions, and
- Trust companies;
- Money brokers;
- Consumer finance companies;
- Collection agencies; sale of checks; and
- Deferred presentment service providers
The Banking Division regulates state-chartered banks and independent trust companies. The Credit Union Division regulates state-chartered credit unions. The Consumer Division regulates Money Brokers, Deferred Presentment Service Providers (Payday Lenders), Consumer Finance Companies, Collection Agencies, and Sale of Check companies.
The following types of entities operate within the State of North Dakota but are supervised by other regulatory agencies or municipalities:
- National Banks
- Federal Thrifts
- Federal Credit Unions
- Pawn Brokers - Pawn brokers are licensed and supervised by the municipality in which they are located.
Laws and Regulations
The following are a selection of the North Dakota Century Code that are applicable to financial institutions. The Department of Financial Institutions is responsible for compliance.
- Title Related Topic
- Title 6 Banks and Banking
- Title 9 Contracts and Obligations
- Title 10 Corporations
- Title 13 Debtor and Creditor Relationship
- Title 21 Governmental Finance
- Title 22 Guaranty, Indemnity, and Suretyship
- Title 28 Judicial Procedure, Civil
- Title 30.1 Uniform Probate Code
- Title 35 Liens
- Title 40 Municipal Government
- Title 41 Uniform Commercial Code
- Title 43 Occupations and Professions
- Title 47 Property
- Title 51 Sales and Exchanges
- Title 57 Taxation
- Title 59 Trusts, Uses and Powers
- Title 32 Judicial Remedies
- Entire ND Century Code
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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