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Mission

It is the mission of the Division of Banking and Financial Institutions to protect Montanans by regulating state-chartered and licensed financial institutions under its supervision.

Goals and Objectives

Goal 1: Protect Montanans who enter into short term, high rate loans with lenders from abuses that occur in the credit marketplace.

  • Objective 1: Examine deferred deposit, title, consumer lenders and mortgage brokers and loan originators to ensure compliance with Montana and federal law.
  • Objective 2: Issue licenses to entities who meet the requirements of law.
  • Objective 3: Provide Montanans with a consumer complaint process involving any entity that violates the law.

Goal 2: Provide Montanans with a safe and sound system of state-chartered financial institutions.

  • Objective 1: Examine state-chartered financial institutions to assure their operations are in accordance with law and sound financial institution practices.
  • Objective 2: Coordinate the supervision of financial institutions with federal regulatory agencies.

Goal 3: Promote the dual banking system that allows state and federal governments to act independently to charter, regulate and supervise financial institutions for the good of Montanans.

  • Objective 1: Address the needs of banks, the local communities and Montanans while assuring safe and sound banking practices.
  • Objective 2: Authorize state-chartered banks to engage in any activity in which the bank could engage if it were operating as a national bank as provided by law.

Goal 4: Educate Montanans about financial exploitation and management.

  • Objectives 1: Provide financial information through public presentations, the division's website, newsletter, media and consumer disclosure pamphlets. A consumer loan license is needed to engage in business as defined in the Montana Consumer Loan Act (Section 32-5-101, MCA).

Performance Indicators

Indicator

Actual FY2004

Actual FY2005

Actual FY2006

Estimated FY2007

Requested FY2008

Requested FY2009
Regulated depositories - banks, credit unions

Number

81

81

80

79

77

76
Examinations 38 44 42 43 40 40

Regulated non-depository lenders - consumer loan, title loan, deferred deposit loan licensees
Applications for new licenses 103 116 108 100 92 90
Licenses outstanding 475 515 530 550 518 500
Examinations 81 161 189 203 201 203
Other regulated businesses
Applications for new mortgage broker and loan originator licenses N/A* 620 156 125 125 125
Mortgage broker and loan originator licenses outstanding N/A* 516 562 625 650 650
Mortgage broker and loan originator examinations N/A* 0 7 15 25 40
Applications for new sales company licenses 24 20 13 15 15 15
Sales finance company licenses outstanding 153 151 149 150 150 150
Escrow company licenses outstanding 9 9 8 9 9 10
Other examinations and investigations 5 1 0 0 0 0
Other information
Complaints processed 24 44 76 N/A** N/A** N/A**

Refunds, rebates, and penalties from lenders to borrowers as a result of examinations - Number/Amount

 10,145$2,027,478 Not available $466,124

Not available $35,169

N/A**N/A**

N/A** N/A**

 N/A** N/A**
* Licensing was not required before July 1, 2004
** There is no basis for estimating these numbers, although preliminary information indicates that FY 2007 refunds will be at least $125,000.

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Questions?

Division of Banking and Financial Institutions
301 South Park, Suite 316, PO Box 200546, Helena, MT 59620
Phone: (406) 841-2920 Fax: (406) 841-2930