Consumer Finance

What We Do

The Division of Banking and Securities registers, licenses, examines and investigates complaints against non-depository financial institutions, which includes mortgage brokers, lenders and originators, as well as money service businesses. The mortgage lending industry is regulated through the Alaska Secure and Fair Enforcement for Mortgage Licensing Act of 2010 (AS 06.60 & 3 AAC 14). Money service businesses, also called money transmitters, are regulated through the Alaska Uniform Money Services Act (AS 06.55 & 3 AAC 13). Money service businesses (MSBs) include the following five distinct financial services: (1) money transmitters (wiring of funds); (2) issuers of traveler's checks, money orders, or stored value cards; (3) sellers or redeemers or traveler's checks, money orders or stored value cards; (4) currency dealers or exchangers; and (5) check cashers. Alaska does not regulate check cashers under these statutes. Generally, these five groups break down into two categories: (a) MSBs that take customer funds to effectuate a transaction (1, 2 and 3 above); and (b) MSBs that pay-out funds (4 and 5 above).

Mortgage Broker, Lenders & Originators

Money Service Businesses

Contact Us

The Consumer Finance Section of the Division of Banking & Securities is located in Anchorage. Please use the following address for all mailings:

Anchorage Mailing/Physical Address

550 West Seventh Avenue
Suite 1850
Anchorage, AK 99501

Main Phone: (907) 269-8140
Toll-Free: (888) 925-2521
FAX: (907) 269-8146
TTY/TDD: (907) 465-5437

Email

Mortgage Lending:
mortgagelending@alaska.gov

Money Services Businesses:
moneytransmitters@alaska.gov