Financial Institutions: Overview
The Financial Institutions Division regulates state-chartered banks, trust companies, savings & loan, credit unions, mortgage loan companies, small loan companies, and escrow companies. The Division also licenses other financial establishments such as small loan companies, collection agencies, mortgage firms and escrows.
Consumer protection is the underlying purpose of this Division that regulates over 8,300 financial institutions in New Mexico.
Compliance is the primary focus in the administration of different rules, regulations and acts related to non-depository industries (trust companies, collection agencies, endowed care cemeteries, small loan companies, motor vehicle sales finance companies, mortgage companies and loan brokers, escrow companies and money order companies).
Safety and soundness are the primary focus in the administration of the acts related to depository institutions (banks, credit unions, savings and loans).
To accomplish these goals the Division works closely with the Federal Deposit Insurance Corporation, the Federal Reserve Banks, and the National Credit Union Administration.
For more information contact:
Financial Institutions Division
P.O. Box 25101
Santa Fe, NM 87505
FID Hires New Bank Industry Manager
Ms. Rebecca S. Moore, a native New Mexican, has been chosen as New Mexico State Financial Institution Division’s new Bank Industry Manager. She graduated, with honors, from New Mexico State University with a Bachelor’s of Business Administration and from Eastern New Mexico University with a Master’s of Business Administration. In addition, she graduated from Southwest Graduate Banking School (SWGSB), located in Dallas at Southern Methodist University. Ms. Moore began her career with the state as a Financial Bank Examiner and has spent almost two decades as a community banker right here in New Mexico. During her career, she has worked for three community banks with branch locations in a total of 12 communities from as far south as Carlsbad, Deming and Las Cruces to as far north as Tierra Amarilla. Her varied experience includes operations, compliance, trust, internal audit, loan review, project management, budget formulation and strategic planning. In addition, she served as a liaison between the bank, auditors and regulators. Ms. Moore stated “I am excited to begin my new role with the FID and look forward to being a resource for, and developing relationships with, all of our state banks and trust companies.”