Consumer Assistance & Public Information Unit
By the Division of Banks
The Massachusetts Division of Banks (the Division) is an agency within the Office of Consumer Affairs. The Division has jurisdiction over Massachusetts state-chartered financial institutions and out-of-state financial institutions that have been granted authority to do business in the Commonwealth. By law, the Division is required to examine or regulate the following state-chartered financial institutions and facilitites to ensure their compliance with state and federal laws and to oversee their safe and sound operation:
- Commercial Banks (Trust Companies)
- Co-operative Banks
- Savings Banks
- Credit Unions
You may obtain copies of the Commissioner's Annual Reports for the financial institutions listed above for a fee from the State House Bookstore at (617) 727-2834.
- Automated Teller Machines (ATMs)
- Bank Affiliated Mortgage Companies
- Bank Holding Companies
- Foreign Bank Branches
- Out-of-State Bank and Credit Union Branches
The Division also licenses and examines certain consumer or creditor servicing agencies. These include:
- Check Cashers
- Check and Money Order Issuers
- Debt Collectors
- Foreign Transmittal Agencies
- Insurance Premium Finance Companies
- Loan Servicers
- Mortgage Brokers and Lenders
- Motor Vehicle Sales Finance Companies
- Retail Installment Sales and Service Companies
- Small Loan Companies
The Division oversees the following areas of consumer protection with regards to our institutions:
- Availability of Funds
- Automobile Repossession
- Checking Accounts
- Community Reinvestment
- Credit Cards
- Debt Collection
- Electronic Fund Transfers
- Equal Credit Oppurtunity
- Retail Installment Sales & Service
- Truth in Lending
- Truth in Savings
Click here if you would like to make an inquiry or file a consumer complaint, or if you have particular questions about the Division of Banks and its operations, please call the Consumer Assistance Section at (800) 495-2265 ext. 501 within Massachusetts, outside of Massachusetts call (617) 956-1500 ext. 501