Illinois Department of Financial & Professional Regulation Illinois Department of Financial & Professional Regulation
Mario Treto, Jr., Secretary  
JB Pritzker, Governor
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Summary of DFI

The Division of Financial Institutions is authorized by the Financial Institutions Code (20 ILCS 1205/1) to investigate, examine, license, and regulate financial institutions in the State of Illinois including currency exchanges, credit unions, title insurance companies, foreign exchanges and businesses making loans of $40,000 or less.The Division is comprised of four operating sections that are overseen by section supervisors.

Management of the Division is vested in the Director.The Director is advised in the management of the Department by the three advisory boards appointed by the Governor.The Board of Credit Union Advisors, the Board of Currency Exchange Advisors, and the Board of Debt Management Service Advisors play a key role in shaping the direction by which the Division employs methods to fulfill its fundamental mission:to protect the interest of depositors, borrowers, shareholders, and consumers of the licensed financial institutions operating in the State of Illinois.

Administrative Section
Consumer Credit Section

The Section provides licenses to non-bank financial institutions that provide consumer loans, finance retail purchases, rent safe deposit boxes, exchange foreign currency, issue negotiable instruments, and provide financial planning and management services.  Licensees are examined on an annual basis to insure they are in compliance with all applicable Illinois rules, regulations and statutes.  Revenues generated are deposited into the Financial Institution Fund – 0021.  Revenues generated in excess of the cost to run the Division are deposited into the State’s General Revenue Fund for general State government programs.
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Title Insurance Section

The Section certifies, registers and regulates title insurance companies and their registered title agents that guarantee or insure titles to real estate in the state of Illinois.  Title insurance companies are examined annually by the Section to ensure compliance with the Title Insurance Act, acceptable management practices and to verify their financial stability and that there is no financial impairment.  Title insurance agents are examined only upon the showing of good cause and with the cooperation of the title insurance company.  The Act also requires the certification of Independent Escrowees which are companies that receive deposits, in trust, of funds or documents, or both, for the purpose of effecting the sale, transfer, encumbrance or lease of property located in Illinois.  Revenues generated are deposited into the Financial Institutions Fund – 0021.

Credit Union Section

The Section is responsible for regulating and supervising all Illinois state-chartered credit unions according to the Illinois Credit Union Act.  This Act provides the authority for the Section to conduct biennial examinations of all credit unions.  The Section uses the AIRES and CAMEL examination process.  The AIRES system allows the examiners to use sophisticated computer hardware and software to improve the manner that information is collected, analyzed and evaluated, allowing examiners to spend more time on the analysis and interpretation of data.  The CAMEL system is a basic exam that emphasizes essential or core areas.  Five key operational areas are evaluated.  These include capital adequacy, asset quality, management, earnings, and liquidity.  Revenues are deposited into the Credit Union Fund – 0243.

Currency Exchange Section

The Currency Exchange Act gives the Division its authority to license and regulate currency exchanges.  Community currency exchanges provide various financial services to citizens.  These include check cashing, money order sales, motor vehicle and title registration form processing, license plate sales, distribution of public aid checks and food stamps, utility bill payments, and cable TV payments.  Ambulatory currency exchanges provide payroll check cashing services for employees on the premises of the employer.  Revenues are deposited into the Financial Institution Fund – 0021.

Electronic Data Processing

The MIS function is considered to be a part of the Administration Section.  The MIS Section is responsible for the maintenance and production of all systems currently in place.  The MIS Section is also responsible for the development of additional applications that are applicable to the long-range planning document of the Department’s MIS Plan.  Effective fiscal year 2004, the MIS Division and its costs were absorbed into the Administration and Credit Union Sections. The following table details various data representative of the Department’s operation:



FY 2004

Consumer Credit Section


   Number of licensees


   Registered Agents (TOMA)



Currency Exchange Section


   Number of licensed exchanges


   Ambulatory Currency Exchange



Credit Union Section


   Number of state chartered credit



Title Insurance




   Registered Agents



Total DFI Licensees


Total DFI Agents (working under Licensee)


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