Category: Press Releases

Idaho Joins $15.5 Million Multistate Settlement with Mortgage Servicer NewRez

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The Idaho Department of Finance, along with 48 state financial agencies in 47 states, has reached a $15.5 million settlement with NewRez LLC (NMLS ID 3013), one of the nation’s largest mortgage servicers, for improperly imposing “force-placed” insurance costs on borrowers who already carried active homeowners insurance policies. Idaho homeowners may know the company by the name it uses to service loans, Shellpoint Mortgage Servicing.

Under the terms of the settlement, Fort Washington, Penn., based NewRez, will pay a total of $15.5 million. The company worked with state regulators to self-identify and proactively remediate more than $4.5 million to the impacted borrowers, and it will pay nearly an additional $11 million for costs and penalties. NewRez will be required to implement and conduct enhanced monitoring for loans that have force-placed insurance. The company also must implement other actions to strengthen controls.

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Fourth Annual Senior Fraud and Financial Exploitation Prevention Roadshow Returns as Reported Losses by Older Idahoans Double- Six Free Events Across Idaho, September 8 through September 23

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The Idaho Department of Finance (IDOF) will bring its fourth annual Senior Fraud and Financial Exploitation Prevention Roadshow to six Idaho communities this September. The free public events return at a moment when the amount of money Idaho seniors report losing to fraud has doubled in a single year.

In 2025, Idahoans aged 60 and older reported $37.4 million in losses across 1,136 complaints filed with the FBI’s Internet Crime Complaint Center—up from $18.7 million the year prior.[1] Because many scams go unreported, officials note the actual financial toll is significantly higher. Scam tactics are also rapidly evolving from spoofed calls and phishing emails to investment chats on messaging apps, cryptocurrency kiosks in local stores, and AI-generated voices mimicking loved ones. The Roadshow focuses on the most reliable defense: recognizing red flags before money moves.

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[1] Federal Bureau of Investigation, Internet Crime Complaint Center (IC3), “Losses by State from Complainants 60+,” 2025 Internet Crime Report (Idaho: 1,136 complaints, $37,394,229) and 2024 Internet Crime Report (Idaho: 775 complaints, $18,663,392). Available at ic3.gov.

Idaho Department of Finance and Governor Little Honor bankcda of Coeur d’Alene for 25 Years of Service to Idahoans

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The Idaho Department of Finance (IDOF) and Governor Brad Little recognized bankcda of Coeur d’Alene on June 17, 2026, for 25 years of service to the financial well‑being of Idahoans. A Certificate of Appreciation was presented to bankcda during its Board meeting on June 17, 2026. The certificate, jointly signed by Governor Little and IDOF Director Salvador Cruz, recognizes the bank’s long‑standing service, financial stewardship, and commitment to the communities it serves.

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Idaho Department of Finance Marks World Elder Abuse Awareness Day by Helping Families Recognize the Warning Signs of Fraud

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The Idaho Department of Finance (IDOF) today joins regulators and advocates across the country and around the world in observing World Elder Abuse Awareness Day, reaffirming its commitment to protecting Idaho’s seniors from threats that grow more sophisticated every year.

The harm is real, and it is accelerating here at home. In 2025, Idahoans aged 60 and older reported losing more than $37 million to fraud across 1,136 complaints filed with the FBI’s Internet Crime Complaint Center¹, roughly double the losses this same group reported just one year earlier. And because so many cases go unreported, out of embarrassment or because victims never realize they were targeted, the true toll is almost certainly higher. Increasingly, these schemes arrive disguised as investment opportunities, social media connections, and AI generated impersonations of banks, loved ones, and government agencies.

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Cease and Desist Order Issued to Macey Lee Wymore

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The Idaho Department of Finance issued an order to Cease and Desist against Macey Lee Wymore, a former employee at Idaho Central Credit Union (ICCU), who used her position between December 2023 and June 2024 to embezzle and steal at least $63,400 belonging to or entrusted to ICCU. Ms. Wymore’s actions were in direct violation of the Idaho Financial Fraud Prevention Act (IFFPA). Ms. Wymore is ordered to Cease and Desist from violations of the IFFPA, and not seek or accept employment with, or become employed by, an Idaho chartered or licensed institution without prior written consent of the Director. Ms. Wymore may appeal within 28 days of the service date of the order.

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Second Annual North Idaho Women and Their Money Conference Returns June 9th in Coeur d’Alene

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The Idaho Department of Finance (IDOF) is pleased to support the second annual North Idaho Women and Their Money Conference, returning to the North Idaho College campus on Tuesday, June 9, 2026. This year’s event builds on the momentum of the inaugural conference, bringing together community members, students, and professionals for a full day focused on strengthening financial knowledge, confidence, and long-term financial well-being. A key feature of the conference is the awarding of 40 $1,000 scholarships to North Idaho College, available to eligible attendees through a registration-based drawing.

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Financial Literacy Tip of the Week: Idaho Department of Finance Encourages Consumers to Verify Licensing When Seeking Help with Tax-Related or Other Debt

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As part of Financial Literacy Month, the Idaho Department of Finance is reminding consumers of the importance of working with licensed financial service providers. Whether a consumer is seeking help with tax-related debt, medical bills, credit card balances, or other obligations, Idaho law requires certain companies to be licensed before they engage in debt-related services. Under the Idaho Collection Agency Act, companies must obtain a license before they collect or receive payments for others, negotiate or settle consumer debt, solicit the right to collect a debt, or operate as a collection agency, debt counselor, credit counselor, credit repair business, or debt buyer. Licensing helps ensure that businesses meet Idaho’s standards for transparency, financial responsibility, and fair treatment.

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Financial Literacy Tip of the Week: Understanding Alternative Mortgage Products

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The Idaho Department of Finance is encouraging homeowners to carefully evaluate alternative mortgage and home‑equity products following a rise in complaints. Recent complaints include companies charging consumers, predominately seniors, for reverse‑mortgage counseling that should have been free and was not HUD-approved, high‑pressure “retirement mortgage” seminars pushing expensive products and discouraging lawyer review or family involvement, and fraudulent callers impersonating government mortgage‑relief programs and demanding upfront fees. Many Idaho homeowners, particularly long‑time residents have built substantial equity, which has led to increased marketing activity from lenders, investors, and, in some cases, scammers.

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Governor Brad Little Proclaims April as Financial Literacy Month

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Governor Brad Little has officially proclaimed April as Financial Literacy Month in Idaho, reaffirming the state’s commitment to empowering Idahoans with the knowledge and skills needed for lifelong financial well-being. The Idaho Department of Finance (IDOF) and the Idaho Financial Literacy Coalition (IFLC) proudly support this annual observance, which highlights how early financial education helps shape healthy financial habits and long-term stability.

“Financial literacy is a lifelong skill, and building a strong foundation early is essential,” said Director Salvador Cruz. “When we equip young people with the tools to understand money, we empower them to make confident decisions that support their future stability and success.”

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Financial Literacy Tip of the Week: The Importance of Data Hygiene

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As more consumers rely on digital banking, online payments, and mobile financial tools, understanding how personal information is stored and potentially exploited enables individuals to better protect themselves and use financial tools safely. This Financial Literacy Month, the Department of Finance is highlighting the importance of data hygiene. According to national cybersecurity experts, basic cyber hygiene can prevent the overwhelming majority of cyberattacks, underscoring the importance of consistent, proactive digital habits in today’s financial environment.

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