The Department of Financial Institutions traces it’s lineage to the North Dakota legislature’s creation of a State Examiner in 1893.  A detailed chronology of the Department and it's predecessors can be found in the archives of the State Historical Society:

Through the Bank and Credit Union divisions, the Department has charge of the execution of all laws relating to state-chartered banks, trust companies, and credit unions. 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 Chair of each Board.  The Department’s Consumer Division regulates money brokers, mortgage loan originators, deferred presentment service providers (payday lenders), collection agencies, debt settlement service providers, and money transmitters.

Our mission is 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.  Our vision is a safe, secure and competitive financial services environment, which promotes the economic well-being of North Dakota businesses and consumers.

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).  In 2000, the Department was accredited by the National Association of State Credit Union Supervisors (NASCUS).  In 2015, the Department received a certificate of accreditation from the CSBS/AARMR (American Association of Residential Mortgage Regulators) Mortgage Accreditation Program.  Accreditation is only accorded to state regulatory agencies that meet minimum standards established by these accrediting organizations.  Once obtained, the Department is subject to a re-accreditation process every five years after the initial accreditation.