Alex Smedley
IT Financial Examiner at Indiana Department of Financial Institutions - Indianapolis, IN, US
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Indianapolis,Indiana,United States
Indiana Department of Financial Institutions
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The Department of Financial Institutions (Department) is a State Agency assign to the regulation of both Depository and Non-Depository entities operating withing the State of Indiana. The Department works directly with the institutions it regulates, and through examination and supervisory activities endeavors to assure the public of adequate and proper services from such institutions. It seeks to assure the protection of the interests of depositors, borrowers, shareholders, and consumers. Within the Department there are five divisions, each under the direct control of a deputy or supervisor. These are the Division of Banks and Trust Companies, Division of Consumer Credit, Division of Credit Unions, Division of Administration, and the Legal Division. The Department is a dedicated-funds agency whose revenue is derived solely from supervision, examination, and license fees that are assessed to those institutions that are under its regulation. Indiana Code 28-11-3-5 grants the Department the authority to adopt a schedule of fees to cover operating costs.