PROFESSIONALS: Licensing: Non- Depository

Nondepository Institutions

Regulated by the West Virginia Division of Banking

In addition to the regulation of depository institutions, the Division of Banking also licenses and regulates those institutions engaged in the business of lending to West Virginia residents and those institutions engaged in the business of selling checks, money orders or other money transmission or transportation services.

Regulated Consumer Lenders are corporations authorized to make or take assignments of regulated consumer loans. A regulated consumer loan is generally a consumer loan in which the rate of the loan finance charge exceeds eighteen percent per year as determined according to the actuarial method. Regulated Consumer Lenders are regulated under Article 4 of Chapter 46A of the West Virginia Consumer Credit and Protection Act .

Entities who engage in mortgage activity secured by residential owner-occupied real estate located in West Virginia are subject to licensure and regulation by this agency under Chapter 31 , Article 17 et seq. of the West Virginia Code which is entitled the West Virginia Residential Mortgage Lender, Broker And Servicer Act. Loans originated or brokered under the provisions of the Act must also comply with the West Virginia Consumer Credit and Protection Act and other applicable provisions of state and federal law.

Please select one of the following non-depository institutions for additional information: