Department of Finance Administration

Statutory Mandate

The Department of Finance was originally created by the State Legislature in 1905. Its statutory authority derives from the Idaho Code, Title 67, Section 67-2701 and the various laws under which it operates. The Director is appointed by the Governor with the advice and consent of the Idaho Senate.

To be appointed, the Director must have at least five years practical experience in the banking business or have served for a like period in the Banking Division of the Idaho Department of Finance or that of some other state. No one may serve as Director who is the owner of or financially interested in any bank or insurance corporation subject to the supervision of the Department. The Department is divided into four major Bureaus, one of which, Supporting Services, relates specifically to the operation of the Department. The other Bureaus are concerned with the enforcement of the regulatory statutes which the Department administers. Each of the four Bureaus is supervised by a Bureau Chief that reports to the Director.

Mission Statement

Safeguarding the financial health of Idahoans through the appropriate oversight of diverse financial institutions, the education and protection of consumers, and by fostering sensible innovation in the financial services market.

Vision Statement

Excelling in supervision, fostering innovation, protecting Idaho’s financial health.

Department Values

Our department values are Trust, Accountability, Empowerment, Collaboration, Adaptability, and Fairness.

Operating Philosophy

We are committed to maintaining outstanding public service and high professional standards. Promptness and accuracy are the touchstones of our operations. All stakeholders of the Department (citizens, the markets, industries regulated, the Legislature, the Governor, and our employees) will be given quality responses in a timely manner and can expect the Department to be in the forefront of all important developments affecting these laws.