FAQ’s From Customers

Faqs From Consumers

Here are faqs that DIFI has gotten from customers. The concerns come in alphabetical purchase by permit type. To view a whole selection of economic 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. It is possible to register an issue aided by the Appraisal Division . To notice a list that is complete of license kinds, simply click right right right here then press the fall down of “directories”.

please be aware: These faqs are for the basic information. DIFI isn’t authorized to offer or provide legal counsel. You may want to consider contacting a private attorney if you need help with a personal legal matter.

Hyper Links and information about these pages might be from another government agency and you’ll click to a hyperlink that simply leaves the DIFI web site and goes into that agency’s site that is produced, operated, and maintained by that agency. Please contact that agency for more info or issues with the web site.

Advance Fee Loan Brokers

Q: What is definitely an advance cost loan broker?

A: An Advance Fee Loan Broker is someone, whom for an advance charge or perhaps in the expectation of an advance charge, either straight or indirectly, makes, procures, offers, or tries to make or procure that loan of money or expansion of credit. Advance Fee Loan Brokers are controlled by DIFI under A.R.S. §§ 6-1301 – 1310 . The statutes concerning Advance Fee Loan Brokers try not to connect with particular persons that are exempted including banking institutions, savings banking institutions, trust organizations, savings and loan associations, credit unions, insurance firms, customer loan providers or revenue sharing and retirement trusts. For a whole a number of people which are excluded through the concept of “Advance Fee Loan Broker,” please make reference to A.R.S. §§6-1302(B) .


Q: Does DIFI regulate all banking institutions working in their state of Arizona?

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

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

A: The main distinction is whether the license to complete company being a bank ended up being given because of the local government or the government. Whenever a new bank company is started, the owners use for either a situation or nationwide (federal) bank charter. Both forms of banking institutions provide FDIC insured deposits and both are managed in much the manner that is same. The difference that https://tennesseetitleloans.org/ is important bank clients along with other customers is where they need to go after regulatory support. Because Arizona state-chartered banking institutions will be the only banking institutions monitored by the DIFI , issues and complaints gotten about nationwide banks or banking institutions chartered in other states must certanly be forwarded towards the appropriate regulator. A summary of state and federal agencies that govern banking institutions situated in Arizona although not chartered being an Arizona bank that is state-chartered within 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? In that case, who’s their regulator?

A: Yes. The regulator is situated in the continuing suggest that problems the banking license. You will see more out-of-state, state banks that are regulated Arizona as a result of passage of the Dodd-Frank Wall Street Reform and customer Protection Act, that has been finalized into legislation on July 21, 2010. For a summary of out-of- state, state chartered banking institutions working in Arizona and much more info on banks, please relate to the Other Regulator Referral List .