Financial Institutions Division

The primary mission of the Financial Institutions Division (FID) is to license and regulate financial entities within its jurisdiction, to promote a sound financial and economic environment, and to safeguard consumer rights.

• Safety and soundness are the primary focus in the administration of the acts related to insured depository institutions (banks, credit unions, and savings and loans associations).
• Compliance is the primary focus in the administration of different rules, regulations, and acts related to non-depository industries (trust companies, collection agencies, endowed care cemeteries, small loan companies, motor vehicle sales finance companies, mortgage companies and loan brokers, escrow companies, and money service businesses).
• Consumer protection is the underlying purpose of the FID, which licenses and regulates:  New Mexico-chartered banks, state-chartered savings & loan associations (aka savings banks), New Mexico-chartered credit unions, New Mexico-certified independent trust companies, mortgage loan companies, small loan companies, motor vehicle sales finance companies, collection agencies, repossessors, money service businesses, escrow companies, and endowed care cemeteries.