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Financial Institutions Who regulates Banks in Colorado? The Division of Banking regulates state-chartered commercial banks, industrial banks, trust companies, and state-licensed money transmitters only. National banks located in Colorado are regulated by the Office of the Comptroller of the Currency. How do I file a complaint against my state-chartered bank? You can file a complaint with the Division of Banking using our online forms or in writing, providing as much information as possible. Where can I find a listing of all the state regulated Banks, Money Transmitters, and Trust Companies in Colorado? DORA’s Division of Banking maintains a listing of all Commercial Banks, Industrial Banks, Money Transmitters, and Trust Companies regulated by the State. Who regulates Trust Companies? DORA’s Division of Banking regulates Trust Companies. Is my money safe in a state-chartered Bank? Yes, DORA's Division of Banking works hard to keep your money safe by conducting examinations of, and if necessary, taking enforcement actions against, all state-chartered institutions. For more information on insured deposits, visit the Federal Deposit Insurance Corporation (FDIC) website.
Who regulates Money Transmitters, such as Western Union? DORA’s Division of Banking is responsible for regulating Money Transmitter Companies. The Colorado Money Transmitters Act (Title 12, Article 52) requires any organization in Colorado selling money orders, traveler’s checks, or transmitting money electronically or by any other means to be licensed by the Division of Banking.  The Division conducts periodic examinations of the licensee to insure financial viability, sound operating practices, and compliance with the Money Transmitters Act and Federal anti-money laundering regulations. Who regulates Credit Unions? The Division of Financial Services regulates state-chartered Credit Unions.  Is my money safe in a Colorado credit union? The answer is a very firm YES. The Colorado Department of Regulatory Agencies (DORA) has a specifically trained and experienced organization, the Division of Financial Services (DFS) that regulates and examines all state-chartered credit unions and savings and loan institutions in the State of Colorado. Is there a site that I can find listings of regulated institutions? DORA provides a list of regulated state-chartered Credit Unions, Savings and Loans, and Life Care Institutions. Who regulates Savings and Loan Associations, or Thrifts? DORA’s Division of Financial Services regulates state-chartered Savings and Loan Associations. What is Check 21? A 2003 federal law, the Check Clearing for the 21st Century Act, authorized financial institutions to scan (truncate) checks and exchange these images in place of paper checks.  The scanned images become a legal document with all the rights and obligations of the original. How do I file a complaint against a state-chartered Savings and Loan Association, Credit Union or Life Care Institution? You can file a complaint with the Division of Financial Services.
Mortgages Who regulates Mortgage Brokers and Mortgage Lenders?  The Colorado Division of Real Estate regulates Mortgage Brokers and Mortgage Lenders. Second mortgage lenders/finance companies are licensed by the Uniform Consumer Credit Code (UCCC) office. Securities and Investing How can I become a savvy investor? The Division of Securities provides Information to Aid an Investor in Making Investment Decisions. How do I check the license of my securities broker? You can verify your broker's license by calling the Division of Securities at 303-894-2320. How do I file a complaint against my broker or investment adviser? Contact the Division of Securities to file a complaint.
		Improve Your Credit How can I improve my credit? DORA has a list of ways to improve your credit score. Can I receive a copy of my credit report? Request a copy of your current credit score at: www.annualcreditreport.com How can I improve my credit report? DORA has a list of ways to improve on your credit report.
What is a credit report? A report issued by a credit bureau or credit-reporting agency on the credit history and payment history of borrowers. How often can the bank change the rate on my credit card account? Typically, a bank has the ability to alter the rate of your credit card as they see fit.  They do have to disclose to you the rate change 15 days prior. Can a bank raise my interest rate on my credit card for going over my available credit? Typically, a bank has the ability to change the terms on your credit card.  They do have to disclose to you the rate change 15 days prior. Can I ask my bank to lower my interest rate on my credit card after I’ve been on time with my payments consecutively? Typically, a bank does not have to lower your interest rate on your credit card.  You may speak with an account specialist and ask to have your rates lowered.  Some institutions will agree to a lower amount if your account is in good standing and they would like to keep your business. Other Resources: Federal Trace Commission (FTC), 1-877-382-4357