The North Dakota Department of Financial Institutions is responsible for chartering, regulating, and examining North Dakota state-chartered banks, credit unions, and trust companies. The Department also licenses and regulates Money Brokers, Mortgage Loan Originators, Mortgage Loan Servicers, Deferred Presentment Service Providers (Payday Lenders), Collection Agencies, Debt Settlement Service Providers, and Money Transmitters conducting business in North Dakota. Please be aware the Department does not regulate all institutions doing business in North Dakota. Specifically, we do not regulate federally-chartered banks or credit unions.
Collection Agencies / Debt-Settlement Service Providers / Deferred Presentment (Payday) Service Providers / Money Brokers / Money Transmitters / Mortgage Loan Originators / Mortgage Loan Servicers
Banks, Credit Unions, and Trust Companies can access the online portal to pay assessments, submit applications, and submit correspondence
Recent News
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Categories: News
The North Dakota Department of Financial Institutions (NDDFI) announces that the Litchville-Marion High School Money Hounds are the 2026 North Dakota Varsity LifeSmarts Champions. The Money Hounds outperformed seven other teams by tackling real-world consumer and financial questions during the state competition on Feb. 5 at the North Dakota State Capitol.
Categories: Order
The Commissioner of the North Dakota Department of Financial Institutions, acting on behalf of the State Banking Board, has issued an Order of Denial regarding the Application for an Organization Certificate for Trust Company of the Dakotas, Minot, North Dakota.
Under North Dakota Century Code Chapter 6-05, the formation of a trust company requires Board approval based on factors including public need, business competency, and the character and integrity of proposed incorporators.
After a hearing and review of testimony, exhibits, and public comments, the Board concluded that the Applicants failed to meet the requirements for a trust charter.
Accordingly, the Application for Organization Certificate for Trust Company of the Dakotas is denied. The proposed incorporators are not authorized to transact business as a trust company in the State of North Dakota.
More information is contained in the Findings of Fact, Conclusions of Law, and Order of Denial of Application.
Categories: Order
The Commissioner of the North Dakota Department of Financial Institutions has entered into a Consent Order with BAM Trading Services, Inc. doing business as Binance.US (“Binance”). Money transmission activity includes receiving money or crypto currency to send to a location within or outside the United States on another person’s behalf. To lawfully engage in the business of money transmission, a license is required under North Dakota Century Code Chapter 13-09.1.
Under the Consent Order Binance will cease engaging in the business of money transmission in North Dakota and its license will be terminated.
Categories: Prohibition Orders
BISMARCK, N.D. – The North Dakota Department of Financial Institutions (DFI) has issued a cease and desist order against Bankers Healthcare Group LLC doing business as BHG Financial LLC (BHG) for conducting unlicensed activities in the state, engaging in deceptive practices in interactions with customers, and other activity contrary to North Dakota Century Code chapter 13-04.1. DFI also has imposed civil money penalties against the company and denied its money broker license application.
Categories: Order
BISMARCK, N.D. – The North Dakota Department of Financial Institutions (DFI) has reached a final agreement with money transmitter Sigue Corp. for failing to fulfill its obligations to customers during its collapse last year.