The Kentucky Department of Financial Institutions (DFI) is the state agency responsible for the supervision of the financial services industry and for chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. In order to accomplish its mission, DFI conducts examinations on state-regulated financial industries through its Division of Depository Institutions
, Division of Nondepository Institutions
and Division of Securities
DFI also provides educational materials and outreach to protect consumers from financial fraud. DFI assists the industry and public through the investigation of complaints filed with the office. If you have a question or need to file a complaint, DFI is here to help.
The DFI website has been redone for improved content and navigation. You will find all the useful information from the previous site, as well as some new pages. Everything you need can be found using the yellow ribbon across the top of the page. In particular:
|10/30/2013||Hardinsburg Senior Scam Jam Registration|
Register now for the FREE Senior Scam Jam event in Hardinsburg on Nov. 14. This anti-fraud awareness event includes lunch and door prizes for those who register. Call 800-223-2579 or use this online registration form.
|10/2/2013||Community banking conference webcast|
A national community banking research and policy conference, “Community Banking in the 21st Century,” will be webcast live from the Federal Reserve Bank of St. Louis Oct. 2-3, 2013. The webcast at www.stlouisfed.org/live begins at 2 p.m. central time on Oct. 2. Federal Reserve Chairman Ben Bernanke will kick off the conference, which is hosted by the Federal Reserve System and the Conference of State Bank Supervisors. On Oct. 3 at 1:45 p.m. central, DFI Commissioner Charles Vice is moderating a panel discussion of the results from town hall sessions across the U.S. Conference information is at http://www.stlouisfed.org/banking/community-banking-conference/.
|9/26/2013||Bardstown Senior Scam Jam Registration|
|9/12/2013||Money Transmitter Order of the Commissioner|
By Order of the Commissioner signed Sept. 5, 2013, DFI has expanded the types of permissible investments that are maintainable by money transmitters. The Order clarifies and updates the standards for money transmitters regarding the use of ACH, debit card, and credit card receivables as permissible investments.
|8/22/2013||National Mortgage Settlement |
The nation's five largest mortgage servicers continue to provide direct relief to homeowners in Kentucky and across the country as part of the historic national mortgage foreclosure settlement. According to the fifth and final post-settlement report released today by the independent settlement monitor, 1,833 Kentucky homeowners received more than $63.7 million in settlement-related relief from Ally/GMAC, Bank of America, Citi, Chase and Wells Fargo through June 30, 2013. Borrowers each received an average of $34,771 in assistance. The report compiles information provided by the servicers and has yet to be verified by the compliance monitor. For more information, visit http://migration.kentucky.gov/newsroom/ag/63millionmortgagesettlement.htm.
DFI's mission is to serve Kentucky residents and protect their financial interests by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence and encouraging economic opportunities.
Putting the Mission to Work
In fulfilling its mission, DFI is dedicated to serving the suppliers, as well as the users, of financial services and to assuring a stable market which brings the two together.
DFI also works to promote economic growth through increased capital, whether by initial capitalization of private investors or retained earnings, and by flexible policies, laws and regulations that provide for competition within the industries.
Primarily through the examination process, DFI determines if Kentucky's state-regulated financial institutions and securities entities are exercising safe and sound practices and/or complying with applicable laws and regulations. Depository institutions are evaluated in the areas of management, quality of assets, capital adequacy, earnings and liquidity and are checked for compliance with laws and regulations. Securities entity and non-depository institution examinations are focused primarily on regulatory compliance and consumer protection issues.
DFI's long and continuing tradition of public service is supported and sustained by a highly skilled and diverse workforce that responds rapidly to changes in the financial environment.