Financial Institutions Division
The primary mission of the Financial Institutions Division is to license and regulate financial entities within its jurisdiction to promote a sound financial and economic environment and to safeguard consumer rights.
The 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 87504
Phone: (505) 476-4885
Fax: (505) 476-4670
Important Notices and Regulatory Alerts
CYBERSECURITY BEST PRACTICES FOR CONSUMERS
- National Cyber Security Awareness Month (NCSAM) is celebrated every October as a collaborative effort between government and industry to ensure every American has the resources they need to stay safer and more secure online.
- Click here for tips to help protect consumers against cybercrime.
MEDIA RELEASE: FID RECEIVES CERTIFICATE OF MORTGAGE ACCREDITATION
On June 24, 2015 the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) announced that the New Mexico Financial Institutions Division has received a certificate of accreditation for mortgage supervision. This accreditation demonstrates the Division's commitment to superior supervision of the residential mortgage industry in the state of New Mexico.
Conference of State Bank Supervisors (CSBS) Media Release
REGULATORY ALERT: HOME LOAN PROTECTION ACT
- Click here for regulatory guidance regarding the Home Loan Protection Act 58-21A-4(N)(7).
REGULATORY ALERT: ESCROW COMPANY REGULATIONS
- Proposed amendments to the Escrow Company Regulations 12.25.2 NMAC are available at the link below.
Escrow Company Regulations (Revised 2015)
- A Public Rule Hearing will be held to consider adoption of the amended rules on July 28, 2015 at 10:00am at the Toney Anaya Building, located at 2550 Cerrillos Road in Santa Fe, NM. Please click the link below for additional information.
Notice of Public Rule Hearing
REGULATORY ALERT: ESCROW COMPANY ACT
- Click on the link below for a summary of amendments passed during the 2015 Legislative Session to the Escrow Company Act, NMSA 1978, Sections 58-22-1 to -33 (1983, as amended through 2015).
- Click on the link below to review Senate Bill 412 in its entirety, containing the full text of the amendments to the Escrow Company Act.
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.”