Mission statement

To encourage a wide range of financial services, products, and information for Oregonians, delivered in a safe, sound, equitable, and fraud-free manner.

General information

The Oregon Division of Finance & Corporate Securities promotes a business climate that provides innovative financial services to the public and ensures the safety of financial transactions for individuals, businesses, and governmental units. The Division administers applicable laws and regulations with an emphasis on fair treatment of both individuals and businesses. It avoids unnecessary regulation and supervision, and provides responsive and strong regulation where needed. The Division also regulates the sale of securities within the state and maintains consumer access to the widest possible range of financial products and services.

Administrative staff

David C. Tatman Administrator Nancy J. Boysen Deputy Administrator Shelley A. Greiner Legislative and budget coordinator Richard Y. Blackwell Policy analyst Sarah I. Hackett Policy analyst Patricia A. Locnikar Policy analyst

Kirsten J. Anderson Manager, mortgage lending Kevin C. Anselm Chief of enforcement/securities licensing and registration Michael L. McCord Supervising examiner, non-depository programs Janet M. Powell Supervising examiner, credit union program Richard L. Renken Supervising examiner, banking & trust programs

History of DFCS

DFCS was restructured in 1987 to combine the regulation and supervision of financial institutions and the securities industry.

The Division has regulatory jurisdiction over 15 programs divided into depository, non-depository, and securities program areas.

Depository

• Charters and examines state banks, credit unions, and savings and loan institutions whose activities are supervised cooperatively with federal regulators, by virtue of federal deposit insurance. (Does not oversee national banks, other-state chartered banks, federal credit unions, or federal savings and loans.)
• Charters trust companies
• Incorporates bank holding companies

Non-depository (state-authorized activities which are exclusively supervised by the division)

• Licenses consumer finance companies, pawnbrokers, mortgage lending, and money transmitters
• Registers collection agencies, credit services organizations, debt consolidating agencies, endowment care cemeteries, irreducible fund cemeteries, master trustees, prearranged funeral plans (preneed certified providers), and sellers of travel
• Operates a consumer information program to provide education and information to consumers who are in the process of purchasing or refinancing their homes

Securities

• Regulates the securities industry (capital formation) in Oregon through the registration of securities, licensing entities, testing and licensing of individuals who sell securities
• Operates an investor information program to inform Oregonians how to avoid being a victim of securities fraud
• Operates an ID theft program to educate Oregon businesses and private individuals about identity theft prevention

DFCS is financed exclusively by the assessments and fees collected from the regulated industries, with no appropriated general fund tax dollars.