Department of Finance Administration
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.
The mission of the Department is to diligently promote access to healthy and comprehensive financial services for Idaho citizens. This is accomplished through prudent and efficient oversight of financial institutions, investment opportunities, and credit transactions. Through administration of laws enacted by the Idaho Legislature, legitimate financial transactions are encouraged, while fraud, unsafe practices, and unlawful conduct are detected and appropriate enforcement action is taken.
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.