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Who Regulates A Financial Institution?
It is sometimes difficult for the consumer to determine the correct regulatory agency over his or her financial institution, especially when the consumer has a complaint against the institution and needs an answer now. However, we urge you to take a moment to look up which regulator has authority over your financial institution. It could save you a lot of time down the road.
FINANCIAL INSTITUTIONS REGULATED BY DFI
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DFI is the regulator for California state-licensed banks, state-licensed credit unions, state-licensed trust companies, state-licensed industrial loan companies, state-licensed offices of foreign banks, money transmitters. DFI can only help you with questions and complaints regarding financial institutions that we regulate. For questions and complaints about other types of financial institutions, please contact the appropriate regulatory agency. |
Other State and National Financial Institution Regulators
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National Credit Union Administration (NCUA) http://www.ncua.gov/ The National Credit Union Administration is responsible for Federal credit unions. Federal credit unions are distinguished by the words “federal” or the initials “F.C.U.” Examples: First Technology Federal Credit Union, Kinecta Federal Credit Union, Lockheed Federal Credit Union, Mission Federal Credit Union, Navy Federal Credit Union and Schools First Federal Credit Union (fka Orange County Teachers FCU) Federal credit unions sometimes omit the word “federal credit union” or the initials “F.C.U.” in their advertising. To determine if your credit union is a Federal credit union, you may wish to check your official documents, checks, loan documents, deposit agreement, etc. for the exact legal title. |
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Office of the Comptroller of the Currency (OCC) http://www.occ.treas.gov/ Examples: Bank of America, N.A., Citibank, N.A., JPMorgan Chase Bank, N.A., Union Bank, N.A., U.S. Bank, N.A. and Wells Fargo Bank, N.A. National banks sometimes omit the words "national association" or the initials "N.A." in their advertising. To determine if your bank is a national bank, you may wish to check your official bank documents, checks, loan documents, deposit agreement, etc. Note: On July 21, 2011, supervisory responsibility for federal savings associations transferred from the OTS to the OCC. |
Other state banks: Some state-licensed banks headquartered in other states have branch offices in California. Examples are Banco Popular North America, Comerica Bank and Umpqua Bank. Click here for a list of other state banks doing business in California and the state regulator that license and regulate them.
OTHER California FINANCIAL SERVICE Regulators
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Department of Corporations (CORP) http://www.corp.ca.gov/ CORP licenses and regulates Residential Mortgage Lenders (RMLs); California Finance Lenders (CFLs); independent escrow companies; deferred deposit originators (payday lenders); check sellers, bill payers and proraters; securities brokers and dealers; investment advisers; and financial planners. The Department also regulates the offer and sales of securities, franchises, and off-exchange commodities. |
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Department of Justice – Office of the Attorney General http://ag.ca.gov/casher/ In California, every owner of a check cashing business is required by law to obtain a permit from the Attorney General's Department of Justice. This licensing process is administered by the Check Casher Permit Program. |  |
Department of Real Estate (DRE) http://www.dre.ca.gov/ The DRE is responsible for the administration and enforcement of the Real Estate Law and Subdivided Lands Law. Licensees include real estate brokers and salespersons, prepaid rental listing services and mineral, oil and gas brokers. Real estate brokers may also act as mortgage brokers. |
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Office of Real Estate Appraisers (OREA) http://www.orea.ca.gov/ OREA licenses real estate appraisers and ensures adherence to the national Uniform Standards of Professional Appraisal Practice (USPAP) and the California Real Estate Appraisers Licensing and Certification Law and Regulations. |