DFI and the Consumer Financial Protection Bureau (CFPB) Office for Older Americans are partnering to offer a free community workshop to raise awareness and help prevent financial exploitation of older adults.
Are you interested in raising awareness to help prevent financial exploitation of older adults? Join us for a free community workshop on June 14, 2019 from 10-11am at the Paul Sawyier Public Library in downtown Frankfort to receive training on best practices for effective presentations to older adults and family caregivers. Register Here!
Join DFI on Feb. 27 to celebrate Kentucky Saves Week! DFI is hosting a celebration event
in the Capitol Rotunda at 10 a.m. to honor student winners from two savings-themed contests. Governor Matt Bevin proclaimed Kentucky Saves Week from Feb. 25 to March 2, 2019, encouraging all Kentuckians to commit to saving money. Kentucky Treasurer Allison Ball will keynote the event. The public is invited.
DFI has released its 2017 Annual Report. The DFI annual report contains statistical and historical information regarding the financial services industry in Kentucky.
Today, the Louisville Metro Police Officers Credit Union was placed into conservatorship by the National Credit Union Administration in cooperation with the Kentucky Department of Financial Institutions. Members are being notified of the conservatorship, and credit union services will continue without interruption. Member accounts remain insured by the National Credit Union Share Insurance Fund which insures individual accounts up to $250,000. For more information, visit https://www.ncua.gov/newsroom/Pages/news-2017-dec-louisville-metro-police-conserved.aspx.
DFI has ensured that banks within the eclipse path of totality are aware of the influx of people expected for this rare astronomical event on Aug. 21. Bank managers in the region are preparing their facilities to ensure customers and businesses have access to money and that facilities are secure.
DFI has issued its 2016 winter newsletter, including articles on reaccreditation, red tape reduction, fraud events, a broker-dealer coordinated exam, an upcoming credit union event, and DFI leadership changes.
Master servicers and sub servicers, with loans secured by residential real property located in Kentucky, who don't currently have a license will have until March 1, 2017, to obtain one. For complete details read the DFI Memorandum of Dec. 22, 2016.
DFI is pleased to offer the 2016 update to the Financial Field Manual. This booklet is a personal finance guide for military families, presented by Kiplinger's and the Investor Protection Trust. This newest version also includes new retirement plan rules coming in 2018.
You can now get texts about scams targeting Kentuckians. To sign up for the Office of the Attorney General’s Scam Alerts, text the words KYOAG Scam to GOV311 (468311). Or, enroll online at http://ag.ky.gov/scams/ and select text message or email alert.
DFI has issued a Supervisory Guidance relating to industrial hemp production in Kentucky. This guidance establishes the Department's position regarding a state-chartered depository institution's obligations under the BSA/AML laws relating to government authorized industrial help programs. To review the guidance, visit the Advisory Opinions page.
Gov. Matthew Bevin has signed into law Senate Bill 97, which eliminates the requirement for employee loan processors to register with DFI. However, non-W2 (contract), loan processors will need to continue the previously established registration process. This new law does not become effective until mid-July. Until then, mortgage loan processors are still required to be registered with DFI. For more information, visit the Mortgage page.
Community bankers are invited to the Executive Leadership of Cybersecurity (ELOC) seminar on March 1 in Covington, Ky. DFI is partnering with the Conference of State Bank Supervisors (CSBS) to offer this seminar designed for bank CEOs and senior executives. The program provides a non-technical overview of cyber threats, resources and best practices. Register at http://www.cvent.com/d/rfq08w/1Q.
DFI warns investment fraud victims to use caution when approached by companies promising - for a fee - to help them recover their money or bring the perpetrator to justice. The advisory includes information to help investors understand how third-party asset recovery firms operate and areas to consider if approached by such a firm. Asset Recovery_Advisory KY.pdf
DFI today issued an advisory reminding investors to be cautious when considering investing in three products recently making news: marijuana-related investments, binary options and digital currency. Check out this advisory for information on each of these products, including their risks: Next Big Thing_KY.pdf.
DFI will host a public hearing on the agency's proposed
payday lending administrative regulation on Tuesday, June 30, 2015, at 9 a.m. in the DFI Training Room.
DFI recently sent bank leadership and IT staff a cybersecurity resource from the Conference of State Bank Supervisors (CSBS). “Cybersecurity 101: A Resource Guide for Bank Executives” is a non-technical, easy-to-read cybersecurity resource guide to help bank CEOs mitigate cybersecurity threats at their banks. The guide puts into one place industry recognized standards for cybersecurity and best practices currently used within the financial services industry. For more information, visit CSBS' cybersecurity page.
The owner of bankrupt Young Oil Company was sentenced to 33 months in prison today, by Senior U.S. District Judge Thomas B. Russell, for charges included in three separate indictments including failure to file an income tax return with the Internal Revenue Service, mail fraud in connection with the solicitation of investor funds for oil drilling partnerships, securities fraud, submitting false statements for the purchase of a firearm, and for the illegal possession of a firearm by a person addicted to controlled substances announced David J. Hale, United States Attorney for the Western District of Kentucky. View the press release for more information.