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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- Work with other agencies to achieve department and division projects set forth in the Main Street Montana Project.