Division of Banks' departmental units

The Division of Banks (DOB) is made up of four core sections. Learn about each departmental unit and its function.

Depository Institution Supervision (DIS)

The DIS unit examines Massachusetts state-chartered banks and credit union for:

• Risk management (also knows as safety and soundness)
• Consumer protection compliance
• Community Reinvestment Act (CRA) and Fair Lending
  • This includes examination of certain mortgage lenders origination loans in Massachusetts.

Other responsibilities include consumer outreach and education. 

Non-depository Institution Supervision (NDIS)

The NDIS unit handles licensing and examination for the following non-depository institutions:

• Mortgage lenders
• Mortgage brokers
• Consumer finance companies
• Money service businesses
• Debt collectors
• Loan servicers
• Student Loan servicers

NDIS examinations assess the level of compliance with consumer protection laws and determine if the licensee is operating in a safe and sound manner.

Administration (Operations, Legal & Bank Affairs)

The Administration unit consists of both the Operations and Legal units. The Operations unit collaborates with centralized administrative teams at the Office of Consumer Affairs and Business Regulation. The collaboration is important for the smooth functioning of the agency in areas of human resources, budget, accounting, information technology, etc. The Operations unit also oversees hiring, training, and employee development.

The Legal team provides legal advice and representation to the Commissioner of Banks and DOB. Representation and advice is given on matters related to the regulation of the DOB's supervised financial institutions and licensees. The Legal unit drafts and coordinates all legislative filings on behalf of the DOB.

The Legal unit reviews and responds to:

• Applications submitted by regulated financial institutions
• Requests for regulatory approvals submitted by regulated entities or attorneys
• Requests for regulatory opinions submitted by regulated entities or attorneys

Enforcement and Investigation

The Enforcement and Investigation unit facilitates specialized investigations of the DOB's regulated entities. As part of the investigation process, the Enforcement and Investigation unit works with other state and federal enforcement agencies.

The Consumer Assistance unit (CAU) falls under the Enforcement and Investigation Unit. CAU answers questions and investigates consumer complaints involving DOB regulated entities or licensees. You may contact the CAU if you have questions or concerns about a financial institution or licensee in Massachusetts.