General Info

The State Banking Department is governed by the State of Alabama. The department charters, regulates and examines banks and trust companies, as well as providers of consumer credit. It has regulatory and licensing authorities over lenders, mortgage brokers and pawnshop conducting businesses. The State Banking Department also manages a legal division. The department operates the Bureau of Banking, which charters savings and loan associations and was established in 1911. In addition, it operates the Bureau of Loans, which was founded in 1945 and administers and enforces the Alabama Small Loan Act and the Alabama Consumer Credit Act. It provides assistance with mortgage loan problems.