Missions, Goals, and Objectives

Enter Title

Goals and Objectives - 2019 Biennium

Division Mission:  To protect Montanans by regulating state-chartered and licensed financial institutions under its supervision.

Goal:  Protect Montanans who enter into short-term, high-rate loans with lenders from abuses that occur in the credit marketplace.
Objectives:
  • Examine consumer loan companies and escrow businesses to ensure compliance with Montana and federal law.
  • Issue licenses to entities that meet the requirements of law.
  • Continue to provide Montanans with an efficient and effective consumer complaint process involving any licensed entity that violates the law.
Goal:  Protect Montanans who enter into residential mortgage loans with mortgage brokers, mortgage loan originators, mortgage lenders, mortgage servicers, and escrow businesses from abuses that occur in the credit marketplace.
Objectives:
  • Examine mortgage servicers, mortgage brokers, mortgage loan originators, and mortgage lender licensees to ensure compliance with Montana and federal law.
  • Issue licenses to entities and individuals who meet the requirements of law.
  • Provide Montanans with a consumer complaint process involving any mortgage licensee that violates the law.
Goal:  Raise the regulatory standards for mortgage regulation in Montana.
Objectives:
  • Obtain mortgage accreditation from Conference of State Bank Supervisors/American Association of Residential Mortgage Regulators.
  • Promote the professionalism of examination and licensing staff.
Goal:  Provide Montanans with a safe and sound system of state-chartered financial institutions.
Objectives:
  • Examine state-chartered financial institutions to assure their operations are in accordance with law and sound financial practices.
  • Coordinate the supervision of financial institutions with federal regulatory agencies.
Goal:  Promote the dual regulatory system that allows state and federal governments to act independently to charter, regulate, and supervise financial institutions for the good of Montanans.
Objectives:
  • Address the needs of banks and credit unions, local communities, and Montanans while assuring safe and sound banking practices.
  • Authorize state-chartered banks and state-chartered credit unions to engage in authorized activities in which the bank or credit union could engage if it were operating as a national bank or federal credit union as provided by law.
  • Modernize the Bank Act.
Goal:  Improve the distribution of information and services through web-based tools.
Objectives:
  • Use the website www.banking.mt.gov to more efficiently distribute press releases, consumer alerts, names of regulated financial institutions, and forms.
  • Promote electronic licensing of mortgage servicers, brokers, loan originators, and residential mortgage lenders.
  • Continue to provide electronic information, forms, or documents to financial institutions and consumers whenever possible.
  • Promote Montana financial education efforts, available resources, and current issues.
Goal:  Comply with current policies, procedures, and laws.
Objectives:
  • Revise all division policies and protocols to ensure they accurately reflect the actions of the division.
  • Identify all statutes that require "clean-up."  Delete, or otherwise revise to ensure the accurate interpretation and enforcement of Montana law.
Goal:  Create and maintain a highly qualified, professional, diverse, and responsive workforce.
Objectives:
  • Provide and promote professional growth and development opportunities through employee mentoring and meaningful training and continuing professional education.
  • Develop and offer career ladders and provide competitive salaries to recruit and retain experienced, capable staff.
  • Foster a work environment where new ideas are encouraged, and creativity and teamwork are expected.
Goal:  Successfully implement those objectives and tasks in the Governor's Main Street Montana Project that fall within the authority of the division.
Objective:
  • Work with other agencies to achieve department and division projects set forth in the Main Street Montana Project.