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 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

Other Massachusetts Consumer Agencies

Federal Bank Regulatory and Insurance Agencies