Arizona Department of Financial Institutions

by admin

The Arizona Department of Financial Institutions (ADFI) is a state agency that regulates and supervises financial institutions in the state. Its mandate is to protect the public’s financial assets and welfare. To this end, it is responsible for ensuring that Arizona banks and financial institutions are regulated and adhere to the highest standards of integrity.

The ADFI regulates state-chartered financial institutions, trust companies and trust divisions, and savings and loan associations. It also regulates mortgage brokers and commercial mortgage brokers. In addition, it licenses funeral trusts and pre-need funeral trusts. It also monitors and enforces financial institutions that violate their regulations.

The Arizona Department of Financial Institutions has a long history. Originally called the State Banking Department (SBDI), it has its roots in the territorial days of Arizona. Its predecessor, the Office of the Territorial Auditor, was created in 1864 under the Howell Code, Chapter 20, Section 1. In the early 1870s, the Office of the Territorial Auditor expanded its responsibilities to include the regulation of banks.

The ADFI is a state regulator of Arizona State chartered banks and credit unions. There are numerous credit unions in the state, but not all are regulated by the ADFI. Most credit unions in the state are federally insured. If you have a complaint or need information on a credit union, you can visit the state regulatory body’s website.

You may also like

Leave a Comment