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Mission Statement

To maintain public confidence in North Dakota financial institutions by ensuring the financial industry operates in a safe and sound manner while complying with applicable rules and laws.

The Department of Financial Institutions has charge of the execution of all laws relating to state banks, trust companies, building and loan associations, mutual investment corporations, mutual savings corporations, banking institutions, and other financial corporations, exclusive of the Bank of North Dakota, and all credit unions organized or doing business under the laws of this State.  The Department also issues licenses to money brokers, mortgage loan originators, collection agencies, deferred presentment service providers, money transmitter businesses, debt settlement providers, and agents for deposit.

The Department is committed to maintaining a standard of excellence in meeting its regulatory responsibilities.  In 1993, the Department was accredited by the Conference of State Bank Supervisors (CSBS).   The Department was re-accredited by CSBS in 1998 , 2003 and again in 2008.  In 2000 the Department was accredited by the National Association of State Credit Union Supervisors (NASCUS).  The Department was re-accredited by NASCUS in 2006. Accreditation is only accorded to state regulatory agencies that meet minimum standards established by CSBS and NASCUS; the agency is subject to a re-accreditation process every five years after the initial accreditation.

The Commissioner, in conjunction with the State Banking Board (seven members) and State Credit Union Board (five members), provides supervisory authority over North Dakota state-chartered banks and credit unions. All members of these Boards are appointed by the Governor. The Commissioner is appointed by the Governor and confirmed by the North Dakota Senate and serves as the Chairperson of each Board.

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