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.
The Idaho Department of Finance (the “Department”) joined twenty-four other state financial regulatory agencies in taking collective action against Plutus Financial, Inc., Abra Trading, LLC, Plutus Financial Holdings, Inc., Plutus Lending, LLC (collectively known as “Abra”), and CEO and largest equity owner William “Bill” Barhydt for operating a cryptocurrency company without receiving the required state licensing.
In recognition of World Elder Abuse Awareness Day (WEAAD) on June 15, the Idaho Department of Finance (IDOF) reminds financial professionals and the public that financial exploitation of seniors is a pressing issue for all Idahoans.
Alternative Investments are investments such as art, collectibles, real estate, private equity, venture capital, and commodities that do not fall into traditional categories such as stocks, bonds, or cash.
The Idaho Department of Finance (IDOF) is warning the public against scams that involve the physical purchase and delivery of gold and other precious metals. Illicit actors trick victims into believing that either their identity, computer, or financial account(s) have been compromised.
The Idaho Department of Finance (IDOF) is warning consumers against “Pig Butchering” scams that have recently targeted Idahoans. Pig butchering scams are unique because they are long-term schemes that combine elements of investment scams, romance/friendship scams, and cryptocurrency transactions to steal all the money an individual possesses or can access (i.e., persuading individuals to take out loans in addition to sending money from their bank accounts).