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 5,000 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, the National Credit Union Administration and the Office of Thrift Supervision.
For more information contact:
Financial Institutions Division
P.O. Box 25101
Santa Fe, NM 87505
(505) 476-4670 Fax