Financial Institutions Bureau
Acts Enforced by the Financial Institutions Bureau
Read the Acts on the Idaho Legislature website Skip legislature links
- Idaho Bank Act
- Idaho Bank Holding Company Act
- Idaho Credit Union Act
Idaho Financial Fraud Prevention Act (click to expand list)
- Section 67-2750 - Short Title
- Section 67-2751 - Definitions
- Section 67-2752 - Financial Fraud Illegal
- Section 67-2753 - Employment or Affiliation of Certain Persons
- Section 67-2754 - Powers of Director
- Section 67-2755 - Injunctions - Other Remedies
- Section 67-2756 - Private Remedies
- Section 67-2757 - Institution of Criminal Proceedings
- Section 67-2758 - Criminal Penalties for Violations - Limitation of Actions
- Section 67-2759 - Criminal Punishment Under This Act Not Exclusive
- Section 67-2760 - Judicial Review of Orders
- Section 67-2761 - Administration of Act - Rules, Forms, and Orders
- Section 67-2762 - Administrative Public Hearings - Exception
- Idaho International Banking Act
- Idaho Interstate Banking Act
- Idaho Interstate Branching Act
- Idaho Savings Bank Act
- Idaho Trust Institutions Act (click to expand list)
- Business and Industrial Development Corporation Act
About the Bureau
The Financial Institutions Bureau is responsible for promoting the safety and soundness of state-chartered commercial banks, savings banks, credit unions, bank holding companies, trust companies, and business and industrial development corporations operating in Idaho. The Bureau assesses the condition of these institutions so that the public can have confidence in the financial system, and so that the interests of depositors, creditors, and shareholders are protected. The Bureau is responsible for enforcement of the Idaho Bank Act, Idaho Bank Holding Company Act, Idaho Credit Union Act, Idaho Financial Fraud Prevention Act, Idaho International Banking Act, Idaho Interstate Banking Act, Idaho Interstate Branching Act, Idaho Savings Bank Act, Idaho Trust Institutions Act, and the Business and Industrial Development Corporation Act. The Bureau provides high quality supervision of state-chartered institutions directed at identifying material or emerging problems in individual institutions or the financial services industry and ensuring that such problems are appropriately corrected. The Bureau monitors and evaluates the financial health of state-chartered institutions, along with the various risks facing these institutions, through the on-site regulatory examination process and off-site monitoring program. The Bureau also investigates complaints against state-chartered financial institutions filed with the Department.
The Bureau works closely with federal and other state regulators to provide regulated industries with seamless supervision, minimal disruption and costs, and effective use of resources. The Department continues its joint compliance examination program entered into with the Federal Deposit Insurance Corporation (FDIC) in 2003. Idaho is one of few states that have a formal agreement with the FDIC on conducting joint compliance examinations. The joint compliance examinations, in addition to joint risk management examinations, result in more efficient and less burdensome bank examinations.
The Department is strongly committed to providing effective regulation without excessive costs. Our fees remain among the lowest in the nation; we do not charge examination fees and process most applications for nominal or no fees. Idaho financial institutions incur significantly less regulatory costs than their federal counterparts.
National Accreditation - The Conference of State Bank Supervisors (CSBS) and the National Association of State Credit Union Supervisors (NASCUS) have established accreditation standards for both bank and credit union supervision and regulation. The accreditation process requires a comprehensive review of all factors needed to have a fully functional regulatory organization. The Department’s bank and credit union sections have been continuously accredited by CSBS and NASCUS since 1990. Every year, the accreditation committee requires updated information to maintain accredited status; a full-scale re-accreditation occurs on-site every five years and most recently occurred in 2015.
Education and Examiner Training - Continuing education and training are important to maintaining accreditation and the confidence of those we regulate. The Department continues to support educational opportunities for its examiners. In addition to on-site training sessions, examiners complete online training and participate in webinars on emerging issues.
The Banking Section is responsible for supervising Idaho’s state-chartered commercial banks, savings banks, and bank holding companies for the benefit of depositors and shareholders, to maintain public confidence in the banking system, to promote fair competition, and to encourage the continuation, maintenance, and preservation of the dual banking system. The Banking Section also licenses and supervises trust departments within financial institutions, non-depository trust companies, and business and industrial development corporations (BIDCOs). The Section also has regulatory oversight responsibilities as the host state supervisor for state-chartered banks operating in Idaho and chartered in other states.
Credit Union Section
The Credit Union Section is responsible for supervising all Idaho state-chartered credit unions and ensuring compliance with the Idaho Credit Union Act. The Section has additional responsibilities as the host-state supervisor for five state-chartered credit unions operating in Idaho and chartered by other states.
The Credit Union section is an active participant in the National Association of State Credit Union Supervisors (NASCUS). NASCUS coordinates with all state credit union regulatory agencies and the National Credit Union Administration (NCUA) on a variety of credit union regulatory issues. In November 2015, the Credit Union Section was successfully reaccredited by NASCUS for another five-year term.