DOB: Programs and Services Offered by the Department of Banking

Programs and Services


The Department of Banking is a state government agency responsible for the regulation of financial institutions and related entities.

Its mission is to protect users of financial services from unlawful or improper practices by requiring that regulated entities and individuals adhere to the law, assuring the safety and soundness of state chartered banks and credit unions, educating and communicating with the public and other stakeholders, and promoting cost-efficient and effective regulation.

The agency is divided into three line divisions responsible for specific types of financial institutions or types of transactions, as well as other divisions that support the department functions.

The Consumer Credit Division licenses and regulates mortgage brokers, mortgage lenders, mortgage correspondent lenders, originators and loan processors/underwriters; consumer collection agencies; debt adjusters; debt negotiators; sales finance companies; small loan companies; check cashing services; payment instrument providers; and money transmitters.

The Financial Institutions Division regulates state-chartered bank and trust companies, credit unions, savings banks and savings and loan associations. It also supervises foreign bank agencies, branches and representative offices; licenses certain entities; and reviews applications for new banks and credit unions, mergers, branches, field of membership expansions and other matters.

The Securities and Business Investments Division is responsible for the registration of securities and business opportunity offerings for sale in Connecticut; the registration of broker-dealers and investment advisers, along with their agents and branch offices; the examination of broker-dealer, investment adviser and branch office registrants; and the enforcement of the state’s securities and business opportunity laws.

Consumer Assistance and Educational Outreach
The Department of Banking is committed to protecting Connecticut citizens in transactions with financial institutions, as directed by state law, and in assisting with complaints and dispute resolution. Agency employees will promptly assist consumers with issues involving banks, credit unions, investment problems, mortgage lending and other consumer credit matters, foreclosure assistance and issues involving rental security deposits.

The Department of Banking has set a priority on educating the public through outreach.  Department staff is available to give free informative talks and presentations on an array of topics including investor education, credit repair, fraud, banking scams and identity theft. Please contact us if you are interested in having someone from the Department of Banking speak to your school or organization.