FAQ’s From Customers

Faqs From Customers

Listed here are faqs that DIFI has gotten from customers. The questions come in alphabetical purchase by permit kind. To experience Tooele payday loans and cash advance a list that is complete of institution and enterprise permit kinds that DIFI regulates, click Licensee Lookup .

At the time of July 2015, DIFI additionally regulates Appraisal Management Companies, Appraisers and Property Tax Agents according to Arizona Revised Statutes Title 32, Chapter 36. You can register a grievance because of the Appraisal Division . To experience a list that is complete of license types, click right right right here then press the fall down of “directories”.

please be aware: These frequently asked questions are 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 Links and informative data on this site might be from another federal federal federal government agency and you’ll click to a hyperlink that makes the DIFI web site and gets in that agency’s website which will be developed, operated, and maintained by that agency. Please contact that agency for more information or difficulties with the web site.

Advance Fee Loan Brokers

Q: What is an advance cost loan broker?

A: An Advance Fee Loan Broker is an individual, whom for the advance charge or in the expectation of a advance cost, either directly or indirectly, makes, procures, provides, or tries to make or procure financing of extension or money of credit. Advance Fee Loan Brokers are managed by DIFI under A.R.S. §§ 6-1301 – 1310 . The statutes associated with Advance Fee Loan Brokers try not to connect with particular exempted persons, including banking institutions, cost savings banking institutions, trust businesses, cost cost savings and loan associations, credit unions, insurance providers, customer loan providers or revenue sharing and retirement trusts. For a total selection of individuals which can be excluded through the concept of “Advance Fee Loan Broker,” please make reference to A.R.S. §§6-1302(B) .

Banking Institutions

Q: Does DIFI manage all banking institutions business that is doing their state of Arizona?

A: No, DIFI just regulates Arizona state chartered banking institutions.

Q: What may be the distinction between circumstances and a nationwide bank?

A: The main distinction is whether the permit to complete business as being a bank had been provided because of the local government or the authorities. 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 offer FDIC insured deposits and both are managed in much the exact same way. The difference that is important bank clients along with other customers is when they ought to opt for regulatory help. Because Arizona state-chartered banks would be the only banking institutions monitored by the DIFI , issues and complaints gotten about nationwide banking institutions or banking institutions chartered in other states should be forwarded towards the regulator that is appropriate. A summary of state and federal agencies that govern banking institutions situated in Arizona although not chartered as 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 continuing state conduct business in their state of Arizona? If that’s the case, that is their regulator?

A: Yes. The regulator is found in the continuing declare that problems the banking license. You will see more out-of-state, state banks that are regulated Arizona because of the passage through 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 info on banking institutions, please reference the Other Regulator Referral List .