The Arizona Department of Insurance and Financial Institutions вЂњ DIFI вЂќ supervises and regulates institutions that are financial enterprises relative to Arizona Revised Statutes Title 6 , Title 32, Chapter 9, Articles 1, 2 and 3 & Chapter36, Articles 1-5 , Title 44, Chapter 2.1, Article 1 , therefore the Arizona Administrative Code Title 20 chapter 4 . It is possible to contact a customer Affairs Division Examiner to answer concerns associated with these statutes by calling 602-771-2800 option#2 or by email at: [email protected] .
Listed here are faqs that DIFI has received from customers. The concerns have been in alphabetical purchase by permit kind. To notice a list that is complete of institution and enterprise permit kinds that DIFI regulates, click Licensee Lookup .
At the time of 2015, DIFI also regulates Appraisal Management Companies, Appraisers and Property Tax Agents in accordance with Arizona Revised Statutes Title 32, Chapter 36 july. You can even register a issue utilizing the Appraisal Division . To view a complete selection of appraisal license types, simply click right here then press the fall down of ”directories”.
please be aware: These questions that are frequently asked for the basic information. DIFI just isn’t authorized to offer or provide advice that is legal. You may want to consider contacting a private attorney if you need help with a personal legal matter.
Hyper hyper hyper Links and home elevators these pages could be from another federal federal government agency and you will click to a hyperlink that makes the DIFI web site and comes into that agencyвЂ™s web site that is developed, operated, and maintained by that agency. Please contact that agency for more information or difficulties with the internet site.
Advance Fee Loan Brokers
Q: What can be an advance cost loan broker?
A: An Advance Fee Loan Broker is an individual, whom for the advance charge or within the expectation of an advance charge, either straight or indirectly, makes, procures, provides, or tries to make or procure that loan of extension or money of credit. Advance Fee Loan Brokers are controlled by DIFI under A.R.S. В§В§ 6-1301 вЂ“ 1310 . The statutes associated with Advance Fee Loan Brokers try not to affect specific exempted persons, including banking institutions, savings banking institutions, trust businesses, cost cost savings and loan associations, credit unions, insurance firms, customer loan providers or revenue sharing and retirement trusts. For a whole variety of individuals that are excluded through the concept of вЂњAdvance Fee Loan Broker,вЂќ please make reference to A.R.S. В§В§6-1302(B) .
Q: Does DIFI manage all banking institutions business that is doing their state of Arizona?
A: No, DIFI only regulates Arizona state chartered banks.
Q: What may be the distinction between a situation and a nationwide bank?
A: The main distinction is whether the permit to complete company being a bank ended up being awarded because of the local government or even the government. Whenever a brand new bank company is started, the owners use for either a situation or nationwide (federal) bank charter. Both kinds of banking institutions provide FDIC insured deposits and both are managed in much the same way. The crucial huge difference for bank clients along with other customers is when they ought to choose regulatory help. Because Arizona state-chartered banking institutions would be the only banking institutions monitored by the DIFI , concerns and complaints gotten about nationwide banking institutions or banking institutions chartered various other states should be forwarded to your regulator that is appropriate. A listing of state and federal agencies that govern banking institutions based in Arizona yet not chartered being an Arizona bank that is state-chartered contained in the Arizona_Trade_Association_Contact_List and Other Regulator Referral List .
Q: Can a bank chartered in another state work into hawaii of Arizona? If that’s the case, that is their regulator?
A: Yes. The regulator is situated in the suggest that issues the banking license. You will observe more out-of-state, state regulated banking institutions in Arizona because of the passage through of the Dodd-Frank Wall Street Reform and customer Protection Act, https://badcreditloansadvisor.com/payday-loans-ut/ that has been signed into legislation on July 21, 2010. For a listing of out-of- state, state chartered banks business that is doing Arizona and much more info on banking institutions, please relate to the Other Regulator Referral List .