We Tell You All About FAQ’s From Customers
Faq’s From Customers
Listed here are frequently asked questions that AZDFI has gotten from customers. The concerns come in alphabetical purchase by permit kind. To visit a list that is complete of institution and enterprise permit kinds that AZDFI regulates, click Licensee Lookup.
At the time of 2015, AZDFI also regulates Appraisal Management Companies, Appraisers and Property Tax Agents in accordance with Arizona Revised Statutes Title 32, Chapter 36 july. For questions associated with these statutes, it is possible to contact the Appraisal Division by calling 602-771-2800 choice #1. You may also file a grievance using the Appraisal Division. To see a list that is complete of license kinds, simply simply click right right right here then press the fall down of “directories”.
Please be aware: These faqs are for the general information. AZDFI just isn’t authorized to offer or provide legal counsel. You may want to consider contacting a private attorney if you need help with a personal legal matter.
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Advance Fee Loan Brokers
Q: What is an advance cost loan broker?
A: An Advance Fee Loan Broker is an individual, whom for an advance cost or perhaps in the expectation of an advance cost, either straight or indirectly, makes, procures, provides, or tries to make or procure financing of cash or extension of credit. Advance Fee Loan Brokers are managed by AZDFI under A.R.S. §§ 6-1301 – 1310. The statutes concerning Advance Fee Loan Brokers usually do not affect certain exempted persons, including banks, cost cost savings banking institutions, trust businesses, cost cost savings and loan associations, credit unions, insurance providers, customer loan providers or revenue sharing and retirement trusts. For an entire variety of individuals being excluded through the concept of “Advance Fee Loan Broker, ” please make reference to A.R.S. §§6-1302(B).
Q: Does AZDFI regulate all banking institutions conducting business in their state of Arizona?
A: No, AZDFI just regulates Arizona state chartered banking institutions.
Q: What may be the distinction between a situation and a bank that is national?
A: The main distinction is whether the license to accomplish company being a bank had been given by the local government or the government that is federal. Whenever a brand new bank company is started, the owners use for either a situation or nationwide (federal) bank charter. Both kinds of banking institutions provide FDIC insured deposits and both are controlled in much the exact same way. The crucial huge difference for bank clients as well as other consumers is when they need to go with regulatory support. Because Arizona state-chartered banking institutions will be the only banking institutions monitored by the AZDFI, issues and complaints gotten about national banking institutions or banking institutions chartered in other states needs to be forwarded towards the regulator that is appropriate. A list of state and federal agencies that govern banks based in Arizona yet not chartered as an Arizona bank that is state-chartered within the Arizona_Trade_Association_Contact_List and Other Regulator Referral List.
Q: Can a bank chartered in another state conduct business into hawaii of Arizona? In that case, that is their regulator?
A: Yes. The regulator is found in the continuing suggest that problems the banking license. You will observe more out-of-state, state banks that are regulated Arizona as a result of passage through of the Dodd-Frank Wall Street Reform and customer Protection Act, that was finalized into legislation on July 21, 2010. For a summary of out-of- state, state chartered banking institutions conducting business in Arizona and much more info on banking institutions, please make reference to the Other Regulator Referral List.
Q: how to get my money changed from U.S. Dollars to another national country’s currency?
A: Phone your regional bank and inquire them about foreign exchange. You may be charged charges for trading your money. A resource for informative data on the present trade prices can be obtained at the Treasury Department’s prices of Exchange. The bureau for the Fiscal Service associated with the united states of america Department regarding the Treasury, provides present and historic change price information.
Q: how do i figure out if my bank is insured and my deposits are covered?
A: The Federal Deposit Insurance Corporation (FDIC) has two tools you should use to check up on these problems. Making use of Bank discover, you are able to determine if your bank is insured, who the regulator that is primary, where you are able to get when you yourself have a problem, or just just what the real history of one’s bank happens to be. Then you’re able to make use of FDIC’s on the web calculator – EDIE the Estimator – to find out in the event your reports are insured.
Q: My bank has unsuccessful and I also need to know if my reports are insured!
A: The Federal Deposit Insurance Corporation (FDIC) has a user friendly device – Is My Account completely Insured? That can be used the very first working day following the bank closing. Simply pick your bank and enter your account quantity getting the outcome. You certainly will get more information based on the status of one’s records.
Q: how do we discover the regulator, reports and information about specific banks?
A: The Federal Deposit Insurance Corporation (FDIC) provides information that is detailed an institution-level basis within their Institution Directory. This consists of comprehensive monetary and demographic information for each institution that is FDIC-insured such as the latest quarterly financial statements, with performance and condition ratios. Call Reports, which consist of reports from 2001 to the current for specific banks and cost cost savings associations are readily available for viewing and downloading. Taxonomies for bank Call Reports can also be found.
Q: Does AZDFI enforce the Fair Debt Collection Practices Act (“FDCPA”)?
A: No, AZDFI regulates debt collectors according to the Arizona Revised Statutes therefore the Arizona Administrative Code, which in a few circumstances afford customers greater security compared to FDCPA. The FDCPA is managed because of the Federal Trade Commission.
Q: What may be the statute of restrictions for a group agency to phone me personally for the debt that is outstanding?
A: The statute of restrictions for unpaid financial obligation differs with regards to the type or type of debt. You ought to consult with an attorney that is private informative data on your financial troubles. You may contact the Federal Trade Commission (FTC) faced with enforcing the Fair Debt Collection methods Act which much like Arizona legislation, forbids collectors from utilizing abusive, unjust, or practices that are deceptive gather away from you.
Q: The collection agency assigned to my financial obligation is refusing to just accept monthly obligations, can they are doing that?
A: Yes. There are not any statutes or guidelines that want a collection agency to simply accept re re payments.
Q: We have asked the collection agency to prevent calling me personally and they’re nevertheless calling me personally. Exactly what can I Really Do?
A: To make sure that the collection agency’s calls end, you need to provide the collection agency written notice saying you will not spend your debt, or requesting that the collection agency stop all further interaction (a cease and desist page). In your cease and desist letter, it really is helpful if you give you the phone quantity for a group agency to get rid of from their database. Forward your request via email, facsimile, and certified mail therefore that you are able to maintain accurate documentation of receipt. Further, an assortment agency is needed to investigate any declare that the debtor happens to be misidentified, your debt is compensated, your debt is released in bankruptcy or just about any other claim that is reasonable your debt just isn’t owed. An assortment may well not carry on its collection efforts until its research is finished (in other words., the data of debt is acquired in addition to credibility of financial obligation and contact information when it comes to debtor are confirmed). You might also contact the Federal Trade Commission (FTC) faced with enforcing the Fair Debt Collection methods Act which much like Arizona legislation, forbids collectors from using abusive, unjust, or practices that are deceptive collect away from you.
Q: a cease has been sent by me and desist letter therefore the collection agency continues to be calling me personally. Exactly exactly just What else could I do?
A: File a problem with AZDFI and eck your rights also beneath the Fair Debt Collection methods Act FDCPA.
Q: Are credit fix organizations controlled?
A: The Federal Trade Commission regulates credit repair companies. Additionally, it is possible to submit a grievance to your Arizona Attorney General’s workplace you have been a victim of deceptive practices from a credit repair company if you feel.