THE ARIZONA DEPARTMENT OF FINANCIAL INSTITUTIONS
WHAT WE DO
We license, supervise and regulate state-chartered financial institutions and enterprises, ensuring the safety and soundness of the financial services industry in Arizona. We also investigate complaints filed by consumers against licensed entities and we require appropriate remedial action for violations.
New temporary process for renewing licenses.
Our licensing system was configured in a way that subjected a licensee with branches to have to complete the renewal process at the parent license level, and then to have to repeat the process for each of its branches. We have begun a three-phase project to streamline the process. The first phase of the project involves advance fee loan brokers (due June 30), consumer lenders (due June 29), debt management companies (due June 15) and sales finance companies (due June 30), which have licenses expiring in June. Those licenses and any corresponding branch licenses must be renewed using the following steps:
- YOU MUST FIRST OPEN THE LICENSE RENEWAL REPORT (click here). The Report provides the name, business/license address and mailing address for each license, making it easy to see all the information in one place. Carefully follow the instructions on page 1 to locate information about, and to renew, the licenses for which you are responsible.
- When using the E-LICENSING portal (https://elicense.az.gov/ARDC_HomePage) to renew the parent license, use the Google Chrome web browser if possible. Other web browsers may cause problems.
- For a license that has one or more branch licenses, you MUST mail your portion of the LICENSE RENEWAL REPORT (which we refer to as "Your Report") with a check or money order to pay for the branch license renewal(s). We are sorry for the inconvenience of having to mail checks, and hope to resolve this inconvenience in our second phase of the project. Please address the envelope to AZDFI BRANCH RENEWALS, 100 N 15th Ave., # 261, Phoenix, AZ 85007-2630.
- Please allow up to three weeks for your license renewal(s) to be processed. Check yor license record to make sure that the licenses that you wish to continue have been renewed.
The second phase of the project, available at a time not yet determined, will continue to involve the LICENSE RENEWAL REPORT. For a licensee with one or more branches, the licensee will be able to use the E-LICENSING portal to upload their portion of the LICENSE RENEWAL REPORT and to enter the number of branches being renewed. The system will calculate the branch renewal fees, allowing the licensee to pay the license and branch renewal fees with one payment.
The third phase of the project will display information online (not in a separate report) about the parent license and each branch license, and will allow the licensee to choose to renew or surrender each branch license. The system will calculate the renewal fees associated with the license and each branch selected for renewal, and will allow the licensee to pay the license and branch renewal fees with one payment.
The Department of Financial Insititutions remains open for business. We are teleworking and can help you with a full array of services through Arizona's E-LICENSING system, by e-mail or phone (see our CONTACT US page) or by mail.
STATEMENT ON FINANCIAL INSTITUTIONS WORKING WITH CUSTOMERS AFFECTED BY THE CORONAVIRUS; REGULATORY ASSISTANCE
Contains information for financial institutions and financial enterprise concerning working with customers, financial condition review and regulatory relief, regulatory reporting requirements and alternative service options for customers.
TEST CENTER RE-OPENINGS
Prometric is opening pre-license examination test centers across the US where state and local guidelines allow, and plans on opening most test centers (with reduced capacity) May 31. If you hold a provisional license, you can contact Prometric to make an appointment to take your exam. Click here for more information.
UPDATED INFORMATION FOR APPRAISERS
RESOURCES FOR SMALL BUSINESSES
The U.S. Small Business Administration (SBA) works with participating federal and state lenders to offer a variety of forms of relief:
- The Paycheck Protection Program (PPP) makes forgivable loans available to small businesses to pay employees, mortgage interest, rent and utility costs over an eight-week period after the loan is made.
- 5/12/2020: PPP podcast from the Conference of State Bank Supervisors (CSBS): An expert talks about how the program is intended to work and change over time. In a rush against the clock, a small business owner tries to get a loan for herself and for a minority-owned business client. An expert on community banks explains how they fit into the program.
- The Economic Injury Disaster Loan (EIDL) provides a $10,000 advance to any small business with fewer than 500 employees (including sole proprietorships, independent contractors and self-employed persons), private non-profit organizations or 501(c)(19) veterans organizations.
- The SBA Express Bridge Loan allows a small business that already ha a relationship with an SBA Express Lender to quickly access up to $25,000.
The SBA programs are subject to the avaiability of funding, and certain requirements and restrictions apply. To find a participating lender for these program, CLICK HERE.
EXECUTIVE ORDER 2020-26: Remote Online Notary Services
On April 8, 2020, Governor Ducey issued Executive Order 2020-26, allowing Arizona notaries public who meet requirements specified by the Arizona Secretary of State to offer remote online notarization, allowing Arizonans and notaries can meet, sign and notarize documents online starting Friday, April 10, 2020. We will soon be providing more information about how Arizonans can find an approved online notary starting April 10. Governor Ducey and Secretary Hobbs announce the avaialbility of online notary services in a brief video (click here).
EXECUTIVE ORDER 2020-21: Prohibiting Small Business Evictions
On April 6, 2020, Governor Ducey issued Executive Order 2020-21, which, in part, requires lenders that have provided commercial real estate borrowers with a commercial mortgage loan for property located in Arizona to consider providing an opportunity for a forbearance for a commercial real estate borrower that has suspended an eviction action described in the Executive Order.
EXECUTIVE ORDER 2020-14 : Postponement of Eviction Actions
On March 24, 2020, Governor Ducey issued Executive Order 2020-14, which prevents residents from being evicted from their residences under certain circumstances relating to COVID-19.