Here are faq’s that DIFI has gotten from customers. The concerns have been in alphabetical order by permit kind. To experience 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 may want to file a grievance utilizing the Appraisal Division . To visit a list that is complete of license kinds, click right 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 offer legal counsel. You may want to consider contacting a private attorney if you need help with a personal legal matter.
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Q: What is an advance fee loan broker?
A: An Advance Fee Loan Broker is an individual, whom for an advance cost or perhaps in 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 usually do not connect with particular persons that are exempted including banking institutions, cost savings banks, trust businesses, cost cost savings and loan associations, credit unions, insurance vendors, consumer loan providers or revenue sharing and retirement trusts. For a total range of people which 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 conducting business in their state of Arizona?
A: No, DIFI just regulates Arizona state chartered banking institutions.
Q: What could be the distinction between circumstances and a bank that is national?
A: The main disimilarity is whether or not the license to accomplish business being a bank ended up being provided because of the local government or even the authorities. Each time 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 manner that is same. The difference that is important bank clients as well as other customers is when they ought to aim for regulatory assistance. Because Arizona state-chartered banking institutions will be the only banking institutions supervised by the DIFI , issues and complaints gotten about national banking institutions or banking institutions chartered in other states needs to be forwarded towards the appropriate regulator. A listing of state and federal agencies that govern banking institutions positioned in Arizona although not chartered as an Arizona state-chartered bank is contained in the Arizona_Trade_Association_Contact_List and Other Regulator Referral List .
Q: Can a bank chartered in another continuing state conduct business in hawaii of Arizona? If therefore, who’s their regulator?
A: Yes. The regulator is found in the continuing suggest that problems the banking license. You will observe more out-of-state, state regulated banking institutions in Arizona as a result of passage of the Dodd-Frank Wall Street Reform and customer Protection Act, that was finalized into legislation on July 21, 2010. For a summary of out-of- state, state chartered banking institutions business that is doing Arizona and much more information about banking institutions, please relate to the Other Regulator Referral List .