The Tennessee Department of Financial Institutions (TDFI) is a Cabinet-level agency within

Tennessee Tennessee ( , ), officially the State of Tennessee, is a landlocked state in the Southeastern region of the United States. Tennessee is the 36th-largest by area and the 15th-most populous of the 50 states. It is bordered by Kentucky to th ...

state government, currently led by Greg Gonzales, Commissioner of Financial Institutions. The department is responsible for regulating Tennessee's banking system, including state-chartered

bank A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

s and

credit union A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including depo ...

s, and handling consumer complaints involving state regulated financial institutions. The department is divided into the Administrative/Legal Division, Bank Division, Compliance Division, Consumer Resources Division, and the Credit Union Division - each of which is led by an Assistant Commissioner. The Banking Department, created in 1913, was headed by the Superintendent of Banks when it was first established, ten years later credit unions were added to its responsibilities. Over the next eighty-five years, the department made a final name change and increased regulatory responsibilities to cover trust companies, licensed business and industrial development corporations (BIDCOs), industrial loan and thrift offices, insurance premium finance companies,

mortgage A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any pu ...

companies, check cashers, deferred presentment services companies, money transmitters, and title loan companies.

References

External links

The website of the Tennessee Department of Financial InstitutionsState of Tennessee Blue BookAn article from Governor Phil Bredesen's website on the appointment of Greg Gonzales
State agencies of Tennessee

{{Tennessee-stub

See also

References

External links