Question 3: If my institution is not chartered or licensed by DFI, who is the primary regulator for my institution?
If not chartered or licensed by DFI, your institution may be chartered or licensed either by a federal agency or by another state's regulatory agency. That agency would be your institution's primary regulator.
The three federal agencies that charter financial institutions are:
- Office of Comptroller of the Currency (OCC) charters and supervises national banks. (Hint: A bank having the word "National" or carrying the abbreviations "N.A." or "N.S.&T." in its name is subject to OCC supervision. For example, "Hawaii National Bank".)
- Office of Thrift Supervision (OTS) charters and supervises federal savings banks and federal savings and loan associations. (Hint: An institution with the initials "FSB" or words "Federal Savings Bank", or a savings and loan association with the word "Federal" in its name, most likely is subject to OTS supervision. For example, "American Savings Bank, FSB".)
- National Credit Union Administration (NCUA) charters, insures and supervises federal credit unions. (Hint: A credit union with the word "Federal" in its name is subject to NCUA supervision. For example, "Hawaii State Federal Credit Union".)
For more information, click above on the agency name to go to its Web site, or go to Federal Regulators for agency addresses, phone numbers, and Web addresses.
Each state has its own regulatory agency comparable to DFI, with power and authority to charter or to license various financial institutions. Some institutions which have contact with Hawaii consumers may be primarily regulated by one of those other state regulators. Many of them have Web sites which can be located by going to www.csbs.org/links/state_links.asp.
To determine which federal or state agency regulates or supervises your financial institution, it is best to contact your institution.