Frequently Asked Questions From Customers
Here are faqs that DIFI has gotten from customers. The concerns have been in alphabetical purchase by permit kind. To visit 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 can register a grievance using the Appraisal Division . To experience a list that is complete of license kinds, simply click here and then press the fall down of “directories”.
please be aware: These questions that are frequently asked for your basic information. DIFI just isn’t authorized to provide or provide advice that is legal. In the event that you need help with an individual appropriate matter, you might want to consider contacting an exclusive attorney.
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Advance Fee Loan Brokers
Q: What can be an advance cost loan broker?
A: An Advance Fee Loan Broker is an individual, whom for the advance cost or perhaps in the expectation of a advance charge, either directly or indirectly, makes, procures, provides, or tries to make or procure that loan of cash or expansion of credit. Advance Fee Loan Brokers are controlled by DIFI under A.R.S. §§ 6-1301 – 1310 . The statutes associated with Advance Fee Loan Brokers usually do not connect with particular exempted persons, including banking institutions, cost savings banking institutions, trust businesses, cost savings and loan associations, credit unions, insurance providers, customer loan providers or revenue sharing and retirement trusts. For an entire range of individuals which are 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 conducting business in hawaii of Arizona?
A: No, DIFI just regulates Arizona state chartered banking institutions.
Q: What may be the distinction between a situation and a bank that is national?
A: The main disimilarity is whether the license to complete company as a bank ended up being provided because of the local government or the government that is federal. Every 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 controlled in much the exact same way. The difference that is important bank clients as well as other customers is when they ought to opt for regulatory help. Because Arizona state-chartered banks will be the only online payday loans banking institutions monitored by the DIFI , issues and complaints gotten about national banking institutions or banking institutions chartered various other states needs to be forwarded to your appropriate regulator. A listing of state and federal agencies that govern banking institutions situated in Arizona yet 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 state work into their state of Arizona? In that case, that is 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 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 conducting business in Arizona and much more info on banking institutions, please reference the Other Regulator Referral List .