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 facilities 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 Opportunity
- 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
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