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  • Elder Financial Abuse & Fraud for Industry

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  • Fair Lending & CRA Resources for Industry & Consumers

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  • Interactive Consumer Financial Resource

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  • Buying A Used Car? Financing The Purchase? Worried About Your Credit? Be Informed!

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  • My Mass Mortgage

    My Mass Mortgage

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  • Making Home Affordable (Foreclosure Assistance)

    Foreclosure Making Home Affordable

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  • Consumer Assistance File a Complaint

    Consumer Assistance File a Complaint

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  • Laws and Regulations

    Laws and Regulations

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Office of Consumer Affair’s Division of Banks Launches Initiative To Detect and Prevent Elder Financial Abuse

Boston, MA (June 15, 2017) – On World Elder Abuse Awareness Day, the Massachusetts Division of Banks (DOB) announces that it is working with state-chartered banks, credit unions and state government agencies to detect and prevent instances of elder financial abuse and bring greater awareness to the problem. More

Information concerning Ocwen Loan Servicing, LLC

Consumers of Ocwen Loan Servicing, LLC with questions and concerns about their loans should contact the Division of Banks at 617-956-1501. Further information may be found at the following link

Baker-Polito Administration Awards $1.05 Million In Foreclosure Education And First-Time Homebuyer Counseling Grants

Boston, MA (May 31, 2017) - Today the Baker-Polito Administration awarded $1.05 million in grants to fund first-time homeownership counseling programs and foreclosure prevention education centers throughout the Commonwealth. Twenty awards were made to 11 foreclosure prevention regional centers and nine consumer counseling organizations. More

Applications Now Being Accepted for Grants to Fund High School Credit for Life Fairs

Boston, MA (May 25, 2017) - The Massachusetts Division of Banks, in partnership with the State Treasurer’s Office, is allocating $225,000 to the Financial Education Innovation Fund to support Credit for Life fairs during the 2017–2018 school year. Schools must submit a completed application to the Office of the State Treasurer by July 14, 2017. Grant recipients will be notified in August. More


Division of Banks and State Treasurer’s Office Announce High School Grant Recipients of the Financial Literacy Education Innovation Fund

Boston, MA (February 21, 2017) – The Massachusetts Division of Banks (Division) and State Treasurer Deborah B. Goldberg’s office today announced the second round of the 2016-2017 recipients of Financial Education Innovation Fund grants. This is the fourth installment of these grant awards, funded by the Division through settlements over alleged unlawful lending practices. The grants help strengthen financial literacy and develop financial reality fairs in high schools across the Commonwealth. More

SETTLEMENT NOTIFICATION: 
Massachusetts Division of Banks And Attorney General’s Office Settlement With Western Sky Financial, LLC, CashCall, Inc. And Related Entities And Persons pdf format of cashcall-notice-10292015.pdf
 
Settlement background and details available by viewing the included notice.  Consumers may be eligible for a refund of excess interest or a loan modification as a result of the October 26, 2015 settlement.
Frequently Asked Questions pdf format of cashcall-faq-10292015.pdf

Division of Banks Launches New Consumer Money Matters Online Resource

Boston, MA (January 4, 2017) - The Massachusetts Division of Banks announced today the launch of the new interactive consumer webpage, Consumer Money Matters. The newly designed resource features an interactive platform which offers easy access to consumer-relevant financial information. With just a few clicks, consumers can locate resources to make informed financial decisions. More


Settlement Against Unlicensed Predatory Lenders Yields 93 Percent Refund Rate And Payout Of 2.3 Million To Massachusetts Consumers

BOSTON, MA (November 22, 2016) Nearly 1,700 Massachusetts consumers who entered into small installment loan agreements with Western Sky Financial, LLC and CashCall, Inc. have been reimbursed $2.3 million collectively as the result of an October 2015 settlement agreement reached by the Attorney General’s Office and the Massachusetts Division of Banks. More


Baker-Polito Administration Names Commissioner of Banks

Boston, MA (September 22, 2016) - Today Governor Charlie Baker appointed Terence A. McGinnis to Commissioner of the Division of Banks, a regulatory agency under the Office of Consumer Affairs and Business Regulation. Mr. McGinnis comes to the Executive Branch from Eastern Bank, where he served as General Counsel and Secretary of Massachusetts’ largest state-chartered bank since 2004. As Commissioner, McGinnis will now oversee the supervision of more than 200 banks and credit unions with total combined assets in excess of $400 billion. More


Mission

To ensure a sound, competitive, and accessible financial services environment throughout the Commonwealth.

Vision

If we accomplish our mission, we will have a financial services environment in which:

  • the public has confidence in its financial institutions;
  • consumers have the information they need to make wise financial choices; and
  • financial institutions can compete on a level playing field

Hotline to Help Avoid Foreclosure

If you are currently having, or anticipate having difficulty making the payments on your mortgage, or have recently received a foreclosure notice, you are urged to contact NeighborWorks' HOPE Hotline at (888) 995-HOPE (4673), or at www.995hope.org . Counselors on the HOPE Hotline are available 24 hours a day.