The primary mission of the Department of Financial Institutions is to charter, regulate, and supervise persons, firms, corporations, associations, and other business entities furnishing financial services to the citizens of the state of Utah.
In the case of depository institutions, the statutory charge is to charter, regulate, supervise, and safeguard the interest of shareholders, members, and depositors through on-site examinations and remedial action orders. The primary activity of the department is the examination of supervised depository institutions to determine their financial strength and solvency.
In the case of persons or entities that provide financial services to the public, the statutory requirements is that these entities register with the department and that the department ensures credit is extended to consumers in the state of Utah in terms that are fair, lawful, and easily understood.
The department has a secondary mission to assist the development of the financial services industry in the state for the benefit of its citizens and the community in all ways consistent with safe and sound business practices.
The department provides a source of information and assistance to the citizens of Utah in connection with all forms of banking products and services.
The department is concerned with preservation and development of the state’s role in providing financial services.