Press Releases

BISMARCK, N.D. – 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.

The NDDFI administers the state LifeSmarts program. LifeSmarts is part of North Dakota’s commitment to improving financial literacy in schools, a priority established by House Bill 1533. The program is designed for students in grades 6-8 (Junior Varsity) and 9-12 (Varsity), testing their knowledge in personal finance, consumer rights, technology, health and safety, and the environment. LifeSmarts is a program of the National Consumers League.

Students from across the state first competed online for a chance to advance to the in-person state finals. As state champions, the Money Hounds will represent North Dakota at the National LifeSmarts Championship in Orlando, April 16-17, 2026. The Litchville-Marion Money Hounds earned second place last year at the national competition.

“LifeSmarts participants gain many of the consumer ‘smarts’ they’ll need to make it in the real world,” said NDDFI Commissioner Lise Kruse. “We’re proud to have the Money Hounds represent North Dakota in the National LifeSmarts Championship."

All middle and high schools in North Dakota are invited to participate in LifeSmarts. Educators interested in starting a LifeSmarts team can learn more by contacting the NDDFI at dfi@nd.gov.

BISMARCK, N.D. – The North Dakota Department of Financial Institutions is proud to announce that the Litchville-Marion High School LifeSmarts team (known as the “Money Hounds”) has achieved an outstanding second-place finish at the National LifeSmarts Competition held this past weekend in Chicago, Illinois. This remarkable achievement reflects the hard work, dedication, and academic excellence of the students, coaches, and school community.

The Department of Financial Institutions organizes the state level competition each year. LifeSmarts is a nationally recognized educational competition that challenges middle and high school students to develop real-world consumer and life skills in areas such as personal finance, health and safety, the environment, technology, and consumer rights.

“LifeSmarts helps prepare the next generation of citizens by providing real-world education on topics including financial literacy,” said Lise Kruse, Commissioner of the Department of Financial Institutions. “We are proud to support a program that builds confidence, leadership, and knowledge in our students.”

Litchville-Marion placed second place in the state competition in February and was able to attend the national competition on a sweepstake invitation. Members of the team included Captain Charlie Enger, Andrian Danilov, Gracie Enger, and Dakota Severance, along with Head Coach Dave Handt and Assistant Coach Alesha Knudson. Handt also received the honor of National Coach of the Year.

“I am so proud of the young people and their achievement,” Handt said. “Their charismatic behavior, polite mannerism, and hard work made this possible. I am just along for the ride.”

The Litchville-Marion team demonstrated exceptional knowledge and teamwork throughout multiple rounds of intense competition, ultimately earning their place among the top teams in the nation. Each team member was awarded a $1,000 scholarship and $100 Amazon gift card from the National Consumer League.

“I couldn’t be more proud of the Litchville-Marion team for being such great ambassadors for North Dakota and proving that even comparatively tiny schools can compete on the national scene with much larger schools in America,” said Sen. Cole Conley of Jamestown.

Jamestown High School Blue team won the state competition in February and advanced to the national competition.

“We are proud to have two North Dakota teams represent our state at the national competition. Congratulations to the Litchville-Marion and Jamestown LifeSmarts teams for representing North Dakota with pride, integrity, and excellence,” Kruse said.

For more information on how to get your school involved in the LifeSmarts Competition in North Dakota, please contact Katie Richard at kmrichard@nd.gov. 

Jan Murtha appointed deputy of non-depositories at North Dakota Department of Financial Institutions

BISMARCK, N.D. – The North Dakota Department of Financial Institutions (DFI) is pleased to announce the appointment of Jan Murtha as the deputy of non-depositories, effective today, Feb. 3.

Murtha brings a wealth of experience in the financial sector, having served in various leadership roles across the industry. Her extensive background in regulatory compliance, risk management and financial oversight will be invaluable as she steps into her new role.

In her capacity as deputy of non-depositories at DFI, Murtha will oversee the regulation and supervision of financial entities that do not accept deposits, including mortgage brokers, mortgage loan originators, mortgage servicing companies, deferred presentment service providers, collection agencies and money transmitters.

"We are thrilled to welcome Jan Murtha to our team," DFI Commissioner Lise Kruse said. "Her expertise and dedication make her a perfect fit for this crucial position. We look forward to her contributions in safeguarding the interests of North Dakota's consumers and businesses."

Murtha, originally from Michigan, holds a bachelor’s degree in economics and management from Albion College in Michigan, a law degree from Marquette University Law School in Milwaukee, and a master’s degree in public administration and policy from American University in Washington, D.C. She has practiced law in Wisconsin, Minnesota and North Dakota. She has previously served as DFI’s assigned assistant attorney general and most recently as the executive director of the North Dakota Retirement and Investment Office (RIO).

"I am excited to join the DFI team," Murtha said. "I look forward to working with Commissioner Kruse and executing on her vision to elevate the department’s role in non-depository regulation policy, giving North Dakota a stronger voice at a national level."

State bank supervisors have appointed North Dakota Department of Financial Institutions Commissioner Lise Kruse to serve as the state banking representative on the Financial Stability Oversight Council (FSOC), effective Jan. 1, 2025. She will succeed New York State Department of Financial Services Superintendent Adrienne Harris, who concluded her two-year term on Dec. 31, 2024.

“Commissioner Kruse’s extensive experience in bank and nonbank oversight will be a great asset to the Council as it monitors risk across an evolving financial system,” said Brandon Milhorn, President and CEO of the Conference of State Bank Supervisors (CSBS). “We deeply appreciate Superintendent Harris’ service, especially during a challenging period for the banking sector. Through her leadership, she demonstrated the value of state-federal coordination in a financial market that is increasingly complex and interconnected.”

“State regulators oversee 79% of U.S. banks and numerous nonbank entities, providing a unique perspective that strengthens the Council’s efforts to safeguard financial stability,” said Commissioner Kruse. “I am deeply honored by the trust my fellow state bank regulators have placed in me to represent their views on the Financial Stability Oversight Council.”

Lise Kruse joined the North Dakota Department of Financial Institutions (DFI) in 2004 and was appointed by Governor Doug Burgum as DFI’s 26th Commissioner in December 2017. She received a Bachelor of Arts with majors in business and organizational communication from Concordia College, Moorhead, Minn., and her MBA with an emphasis in information technology from the University of Colorado. Kruse is also a graduate of the Graduate School of Banking at Colorado. In 2020, her peers elected her to serve on the CSBS Board of Directors, rising to chair in 2023.

The North Dakota Department of Financial Institutions’ purpose is to ensure the safety and soundness of its regulated institutions.  The department 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.

Title I of the Dodd-Frank Wall Street Reform and Consumer Protection Act created the FSOC to monitor the safety and stability of the nation's financial system, identify risks to the system, and coordinate responses to any threat. The Dodd-Frank Act requires one of the five non-voting members of the FSOC to be a state banking supervisor selected by state banking supervisors.  

Washington, D.C.— The North Dakota Department of Financial Institutions and 52 state financial regulatory agencies have taken coordinated action against mortgage company Bayview Asset Management LLC, and three of its affiliates, Lakeview Loan Servicing, Community Loan Servicing, and Pingora Holdings (collectively the Bayview Companies), for deficient cybersecurity practices and for not fully cooperating with state regulators following a data breach that impacted 5.8 million customers.

The fine and corrective plan underscore the importance of meeting state requirements to protect consumer data and complying with state supervisory demands.

State regulators in California, Maryland, North Carolina, and Washington State led the multistate effort, which found that Bayview Companies’ information technology and cybersecurity practices did not meet federal or state requirements. Furthermore, the Bayview Companies delayed the supervisory process by failing to comply with state requests in a timely and complete manner in the early stages of the examination.

In addition to the monetary penalty, the Bayview Companies have agreed to take specified corrective actions, improve cybersecurity programs, undergo independent assessments, and provide three years of additional reporting to the states.

State financial regulators license and supervise more than 33,000 nonbank financial services companies through the Nationwide Multistate Licensing System (NMLS), including mortgage companies, money services businesses, consumer finance providers, and debt collectors.

North Dakota residents who have questions about the enforcement action should the Department at (701) 328-9933. Residents can also visit NMLS Consumer Access to verify that a company is licensed to do business in North Dakota, and they may also view past enforcement actions. 

BISMARCK, N.D. – Gov. Doug Burgum was joined by leaders of 11 state agencies on April 2, 2024, to kick off Financial Literacy Month in North Dakota and share a new resource available to all North Dakotans, SmartwithMyMoney.nd.gov, to improve financial literacy.

This free website allows residents to create an account, take a research-based financial personality assessment, and learn how their personality affects their money decisions. That information, when paired with their level of financial knowledge on key topics, identifies personalized learning resources on the site to improve financial literacy. Completing challenges on the site enters people in a pool for a chance to win cash prizes.

The goal of the “Smart with My Money” effort is to make North Dakota the most financially literate state by 2027.

“When residents are financially healthy, there are far-reaching positive impacts on their personal well-being and the state’s economy,” Burgum said. “Reducing financial stress improves mental health. Making good financial decisions decreases the number of people with excessive credit card debt. More people are able to purchase homes, start or expand a business, and have increased expendable income. We’re grateful for the agencies that have committed to making North Dakota the most financially literate state and improving the quality of life for our citizens.”

The Financial Industry Regulatory Authority (FINRA) completes a study of financial literacy every three years. The last set of data released in 2022 found that only 37% of adults surveyed in North Dakota in 2021 felt confident with their knowledge of finances, compared with 41% in Minnesota and South Dakota and 38% in Montana.

In his State of the State Address in January, Burgum announced the goal of making North Dakota the most financially literate state in America by 2027 through an effort led by State Superintendent Kirsten Baesler and State Treasurer Thomas Beadle in coordination with the Bank of North Dakota (BND), Governor’s Office, Securities Department, Department of Financial Institutions (DFI) and other state agencies.

“In North Dakota, we recognize that empowering people with knowledge is key to their prosperity. Financial literacy isn't just about numbers; it's about helping individuals make informed decisions that impact their lives and our state's economy,” Baesler said. “North Dakota leaders are working together to provide a path forward where every North Dakotan is equipped with the tools and knowledge to navigate their financial journey with confidence.”

“Every single North Dakotan makes decisions that impact their personal finances daily, but not everyone feels equipped to make those choices wisely,” Beadle said. “Whether you are saving for future education, retirement planning, or trying to learn about responsibly using credit cards and managing interest rates, our goal is to ensure that there is something for everyone to help them improve their financial well-being.”

Bank of North Dakota funded the project and will work with state agencies and the business and banking communities to deliver the program through multiple channels. There are 12 state agencies already committed to the effort, with more expected in join in the coming weeks.

“Good financial habits open doors and increase opportunities for our residents,” said BND Senior Vice President for Business Development Kelvin Hullet. “Financial institutions across the state are focusing on financial literacy, and Bank of North Dakota is pleased to play a key role in this effort.”

North Dakota has set the following benchmarks to meet by 2027 as measured by the FINRA study:

• 66% of residents will receive the higher overall financial knowledge score compared to 37% in the last set of released data.
• 66% of residents will have emergency funds that last three months compared to 52% in 2021.
• The percentage of residents who experience financial anxiety will decrease from 56% to 33%.
• 66% of residents will have a retirement plan through their employer compared to 57% today.
• Residents who find it difficult to cover expenses and pay all their bills in a typical month will decrease to 33% from 45%.

In addition to Burgum, Baesler, Beadle and Hullet, those attending today’s event and supporting the effort include Insurance Commissioner Jon Godfread, Securities Commissioner Karen Tyler, DFI Commissioner Lise Kruse, Job Service North Dakota Executive Director Pat Bertagnolli, State Health Officer Dr. Nizar Wehbi, North Dakota University System Chancellor Mark Hagerott, Department of Career and Technical Education Director Wayde Sick, Retirement & Investment Office Executive Director Janilyn Murtha, Public Employees Retirement System Director Rebecca Fricke, and State Library Literacy Specialist Lexi Whitehorn.

 State Regulators Settle with ACI Payments, Inc. for Unauthorized Transactions from Mr. Cooper Customer Accounts

State regulators and state attorneys general levy combined fines of $20 million for data misuse impacting 480,000 consumers nationwide

Bismarck North Dakota—The North Dakota Department of Financial Institutions and 43 other state agencies have reached settlements with ACI Payments, Inc., for erroneously initiating electronic transactions totaling $2.3 billion from the accounts of 480,000 mortgage-holders serviced by Mr. Cooper (formerly known as Nationstar Mortgage, LLC). State regulators levied $10 million in fines through a multi-state enforcement action led by regulators from Arkansas, Connecticut, Maryland and Texas with support from the Conference of State Bank Supervisors. Additionally, 50 state attorneys general, including North Dakota Attorney General Drew Wrigley, on behalf of North Dakota, participated in a matching settlement, which also levied $10 million in fines to ACI, in coordination with state regulators.