Safeguarding the financial health of Idahoans through the appropriate oversight of diverse financial institutions, the education and protection of consumers, and by fostering sensible innovation in the financial services market.
The Financial Institutions Bureau regulates, supervises and examines state-chartered commercial banks, savings banks, credit unions, bank holding companies, trust companies and business and industrial development corporations.
The Consumer Finance Bureau licenses and supervises financial service providers pursuant to the Idaho Residential Mortgage Practices Act, the Idaho Collection Agency Act, and the Idaho Credit Code.
The Securities Bureau administers and enforces several consumer and business protection statutes.
Where individuals or entities violate these statutes, appropriate remedies are sought using statutory and administrative enforcement authority. The Bureau also provides assistance in criminal prosecutions when necessary.
As the seasons change and warm weather approaches, many homeowners consider moving forward with home improvement projects. This may be especially true for those with low interest rates, who opt to stay in their homes longer and seek avenues to upgrade their living spaces.
Managing debt and credit can be overwhelming, particularly when left untouched. Debt settlement and credit repair companies have long been part of the financial landscape, but understanding what they do, how to interact with them, and how they are regulated in Idaho is crucial for making informed financial decisions and maintaining healthy financial standings.
April is officially designated as Financial Literacy Month, thanks to the proclamation by Idaho State Treasurer Julie Ellsworth, with strong support from the Idaho Department of Finance (IDOF) and the Idaho Financial Literacy Coalition (IFLC).
The growing use of digital technology is leading to an exponential increase in tech support scams that are leading to large financial losses for Idahoans.