Commissioner of Banks
Fact Sheet
Banks, Savings Banks, and Savings & Loan Associations
The North Carolina Commissioner of Banks regulates banks, savings banks, and savings & loan associations under N.C.G.S. 53 el set/., 54B el sec/., and
54C el see/. The primary purpose of these statutes is to ensure the safe conduct of banking business within the state, to maintain the public's confidence in the financial
institutions, and to protect the institutions’ depositors, debtors, creditors, and shareholders.
As of
03/31/2010
we regulated:
As of
03/31/2010
86 state-chartered financial institutions reported:
69 Commercial Banks 3,340 branches
16 Savings Banks 64 branches
1 Savings and Loan Association
8 State Trust Companies
0 Trust Representative Offices registered
79 Loan production Offices registered
Total Deposits $183,648,000,000
Total Assets $244,410,000,000
(Deposit and Asset figures above are for month ending
03/31/2010)
Bank Holding Companies and Savings Bank Holding Companies
The Bank Holding Company Act of 1984 (N.C.G.S. 53-225 el seq.) requires
certain bank holding companies to register with the Commissioner of Banks.
Companies that control NC federally or State-chartered banks, or companies that
control any non-bank subsidiary having offices located in the State are subject to
the registration requirements.
As of
03/31/2010
we had:
56 Bank Holding Companies registered
44 Bank Holding Companies registered/regulated
4 Savings Bank Holding Companies registered/regulated
Consumer Finance
The North Carolina Consumer Finance Act (N.C.G.S. 53-164 et seq.) authorizes
the Commissioner of Banks to license and supervise small loan companies that
make direct consumer loans of $10,000 or less and charge rates in excess of
those permitted by Chapter 24. These lenders may choose to make loans as a
General Lender (N.C.G.S. 53-173) or as an Optional Rate Lender (N.C.G.S.
53-176).
As of
03/31/2010
we had licensed:
6 General Lenders (lend $3,000 or less)
481 Optional Rate Lenders (lend $10,000 or less)
487 Total Offices
Refund Anticipation Loans
The Refund Anticipation Loan Act requires facilitators who make tax refund
loans to register with the Commissioner of Banks.
As of
03/31/2010
we had registered:
852 Refund Anticipation Lenders 1,830 Offices
Mortgage Lenders, Brokers, Servicers and Loan Officers
The North Carolina Commissioner of Banks licenses all mortgage lenders,
brokers, servicers, and loan officers under N.C.G.S. 53-243.01 el seq.. unless
exempt by statute. This statute became effective
7/01/2002,
replacing the
mortgage registration laws under Article 19 of Chapter 53. Registrants under
the old law received “grandfathered” licenses during the first year.
As of
03/31/2010
we had:
343 Mortgage Lender's with 643 branches
240 Mortgage Brokers with 78 branches
43 Mortgage Servicers
0 Mortgage Exempt Companies
6,647 Loan Officers (includes 210 EMB's)
Money Transmitters
The Money Transmitters Act (N.C.G.S. 53-208.1 et seq.) provides that no
one can sell or issue checks, drafts, money orders, or other instruments for
the payment or transmission of money unless licensed by the Commissioner
of Banks.
As of
03/31/2010
we had:
70 Money Transmitter Licensees
Reverse Mortgages
The Reverse Mortgage Act (N.C.G.S. 53-255 et seq.) authorizes the
Commissioner of Banks to approve reverse mortgage lenders. Even though
banks, savings institutions, and credit unions are exempt and do not have to
obtain the Commissioner’s approval, nevertheless they must notify him of
their intent to offer reverse mortgages. Reverse mortgages are available to
homeowners over 62. They provide monthly loan advances which are repaid
upon death or the sale of the house.
As of
03/31/2010
we had:
1 7 Reverse Mortgage Lenders
32 Exempt Lender
Trust Licensees
Pursuant to N.C.G.S. 53- 1 59. 1, el seq.. banks wishing to act in a fiduciary
capacity must make application to live Commissioner of Banks for a license, and
renew the license annually thereafter. Licenses are granted or renewed upon a
determination of applicant’s solvency and receipt of a fee.
As of
03/31/2010
we had:
56 Trust Licensees
Check Cashing Businesses
Under N.C.G.S. 53-275 el seq.. persons or other entities providing
check-cashing services for a fee, service charge, or other consideration must be
licensed by the Commissioner of Banks. The law sets maximum fees for the
check-cashing service.
As of
03/31/2010
we had:
371 Licensees 1,550 Locations
Rev :
05/12/2010
