Kentucky Department of Financial Institutions
Web Site Offers Investment, Credit Help

Press Release Date:  Wednesday, May 27, 2009  
Contact Information:  Kelly May, Public Information Officer
502-573-3390 x252
800-223-2579 x252

   FRANKFORT, KY (May 27, 2009) – The Kentucky Department of Financial Institutions (DFI) today unveiled an upgrade to its Web site, The pages have been restructured to improve navigation relating to industry regulation and licensing. In addition, two brand new pages in the Public Resources channel offer investment and credit help for consumers.

   “Our Web site continues to offer a wealth of financial information for both the industry and the public, and now it will be easier to navigate,” said DFI Commissioner Charles A. Vice. “The new resources for the public provide assistance in this unstable economic climate. And the industries we regulate should be able to quickly find needed documents and information.”
   DFI’s Public Resources channel is designed with the consumer in mind. It continues to offer consumer alerts, links, teacher resources and other public information. Now, two new pages complement and enhance these offerings. The Investment Help page tells how to verify investment registration before purchasing, and it also offers free brochures, links, games and other assistance. Similarly, the Credit Help page tells how to verify mortgage lender licensing before signing a contract, as well as brochures, links and games covering mortgages, credit cards, predatory lending and more. The page also offers a number of Web sites and phone numbers where Kentuckians can get help with foreclosure or other credit troubles.

   DFI regulates a variety of different financial institutions, and now the restructuring of the Web site groups related industries for easier access. The three new channels organize information for: Banks and Credit Unions, Securities, and Nondepository, which includes mortgage lenders, consumer and industrial lenders, check cashers, and money transmitters. The Nondepository channel also includes a new page about the impact House Bill 444, regarding payday lenders, will have on the industry and when changes take effect. A similar page covering changes through House Bill 106, regarding mortgages, will be posted in the Nondepository area soon.

   DFI is an agency in the Public Protection Cabinet. It supervises the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI’s mission is to serve Kentucky residents by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.