|
|
| Ohio - Division of Financial Institutions |
The Division of Financial Institutions is part of the Ohio Department of Commerce. It began operations October 29, 1995, when the former Divisions of Banks, Credit Unions, and Savings and Loans/Savings Banks were combined. In 1996, portions of the former Division of Consumer Finance were added. The division is responsible for regulating a wide variety of state-chartered or licensed financial institutions.
The vision of the Division of Financial Institutions is "To be nationally respected by the public, the financial services industries and the business community for consistent, impartial and innovative regulation that meets or exceeds their expectations."
The mission of the Division of Financial Institutions is "To serve Ohio by proactively supervising the financial services industry through the teamwork of a diverse, highly-skilled, professional staff."
Use the attached link to access current information for the Department of Financial Institutions.
http://www.com.state.oh.us/dfi/
Contact and Location Information
The Ohio Department of Commerce
webdfi@dfi.com.state.oh.us
Division of Financial Institutions
77 South High Street, 21st Floor
Columbus, OH 43215-6120
Phone: (614) 728-8400
Entities Regulated
DFI serves state-chartered financial institutions through firm, but fair supervision and regulation. As of December 2, 2002, the division regulated the following organizations:
- Depository Institutions
- Banks
- Trust Only Banks
- Credit Unions
- Savings and Loan Associations
- Savings Banks
- Non-Depository Financial Services
- Check Cashers
- Check Casher Lenders
- Credit Service Organizations
- Domestic Money Transmitters
- Foreign Money Transmitters
- Insurance Premium Finance Companies
- Mortgage Brokers
- Mortgage Broker Licensed Loan Officers
- Mortgage Loan Act Registrants
- Pawnbrokers
- Precious Metals Dealers
- Small Loan Act Licensees
The division does not regulate federally chartered depository institutions, first mortgage lenders, investment advisors, collection agencies or retail installment sales contracts.
Consumer Complaints
The Division of Financial Institutions welcomes the opportunity to assist consumers who have experienced difficulties when conducting business with Ohio state-chartered depository institutions and consumer finance registrants. Written complaints to the Division can help consumers resolve problems when they have been unsuccessful on their own. However, the Division cannot intervene in contractual disputes or act as an ombudsman. In addition, the Division cannot intervene in matters involving legal actions or active negotiations by attorneys.
Use the following link to access information and instructions on how to file a complaint.
http://www.com.state.oh.us/dfi/ccmain.htm
Laws, Rules and Guidelines for Financial Institutions
The Ohio Revised Code can be located at ….
http://onlinedocs/andersonpublishing.com/revisedcode/
The following is a selection of some of the laws that registrants must comply with.
- Check Cashing Sections
- Check Cashing Loan Act
- Credit Services Organization Act Sections
- Mortgage Loan Act
- Mortgage Broker Act Sections
- Precious Metals Dealers Act Sections
- Premium Finance Act Sections
- Small Loan Act
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.
|
|
|
|
