For most Tennesseans, financial institutions are symbols of security. Their role in business and industry is crucial to the growth of our country's economy and our own personal well being.
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 Transmitters
Greg Gonzales is the 18th commissioner of the Tennessee Department of Financial Institutions, who began serving in this role in 2005, and was reappointed by Governor Bill Haslam. He has served in the department since 1986. In this position, Gonzales serves as Tennessee's chief regulatory officer of all state-chartered depository and licensed non-depository financial institutions. Additionally, he has served as assistant commissioner and general counsel for the department.
NASHVILLE-on March 20, 1913, Governor Ben W. Hooper signed Public Chapter 20 into law creating the Tennessee Banking Department.
NASHVILLE-The Tennessee Department of Financial Institutions (TDFI) and the TNStars College Saving Program, which is part of the Tennessee Treasury Department, will join America Saves and the American Savings Education Council to celebrate America Saves Week, Feb. 25 - March 2, 2013. America Saves Week is a national effort to promote an opportunity for consumers across America to make more conscientious efforts to save their money.
THE TENNESSEAN ARTICLE
NASHVILLE-The Tennessee Department of Financial Institutions 2012 Report on the Title Pledge Industry is now available. ...More
NASHVILLE-The Tennessee Department of Financial Institutions 2011 Annual Report is now available. ...More
NASHVILLE- Tennessee is participating in a state-federal mortgage servicing settlement with the nation's five largest servicers: Bank of America, Chase, Citi, GMAC/Ally Financial, and Wells Fargo. This agreement will provide several new servicing standards to improve communications with these servicers, and also relief to eligible homeowners such as loan modifications, refinancing, principal reduction, and short sales. ...More
WASHINGTON, D.C.-The Conference of State Bank Supervisors (CSBS) announces that the Tennessee Department of Financial Institutions, Mortgage Regulation Section has received a certificate of accreditation, certifying that the Department maintains the standards and practices in state mortgage supervision set by the organization's Accreditation Program. The Tennessee Department of Financial Institutions is the fifth state to receive accreditation for mortgage supervision....More