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Tennessee Department of Financial Institutions
USINFO | 2013-11-13 10:35
• The Department of Financial Institutions has legal responsibility for ensuring that Tennessee financial institutions remain fiscally strong and comply with governing authority. In its supervisory role, the department actively regulates and examines the safety and soundness of each state-chartered financial institution. Additionally, the department handles consumer complaints involving these financial institutions.
• In Tennessee, banking is big business. As of March 31, 2013, the Tennessee Department of Financial Institutions regulated:
• • 155 State-chartered Banks
• • 101 State-chartered Credit Unions
• • 8 Trust Companies
• • 2 Business and Industrial Development Corporations (BIDCO)
• • 1,043 Industrial Loan and Thrift Companies (TILT)
• • 54 Insurance Premium Finance Companies
• • 1,126 Mortgage Companies & Branches, 4,843 Mortgage Originators
• • 494 Mortgage Brokers, Lenders, and Servicers
• • 864 Title Pledge Lenders
• • 670 Check Cashers
• • 1,218 Deferred Presentment Services Companies
• • 72 Money Transmitter
