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The Department of Commerce, Community, and Economic Development offices in the Atwood Building and the Juneau State Office Building are closed to walk-in traffic at this time. We are still open for business and encourage you to contact us via phone or email.

State of AlaskaSOA / CommerceDCCED / Banking & SecuritiesDBS / Home

Emergency Guidance for Reporting

Effective March 15, 2020, all due dates for required reporting to the Division of Banking and Securities are extended 60 days to reduce regulatory burden during the COVID-19 outbreak.

Division of Banking and Securities

Director Walsh

Patrice Walsh
Division Director

Program Overview

The Division of Banking and Securities regulates state depository and non-depository financial institutions, administers and enforces Alaska’s financial services laws, and provides information to consumers, investors, entrepreneurs and the financial services industry. The division includes three sections that administer twelve statutory programs. In addition to licensing, examination and enforcement duties, division staff answer inquiries, investigate and resolve complaints, and contribute to education and outreach activities.

COVID-19 Special Notices:

Please check this website for updates or additional guidance that may be issued related to the pandemic.

Premium Finance Companies

The Alaska Division of Banking and Securities (Division) has received several inquiries regarding premium finance companies (PFC) and their contracts that include power of attorney to cancel all policies upon default. The Division does regulate the industry, but does not have authority over the contract/legal agreement between two entities. We do encourage PFCs to review guidance given and recent bills passed by the federal and state governments related to the COVID-19 crisis to consider flexibility that may be given in regards to late payments during this unprecedented period.

https://gov.alaska.gov/home/covid-19-economy/

https://www.congress.gov/bill/116th-congress/house-bill/6201/text

B20-08 from AK DOI at https://www.commerce.alaska.gov/web/Portals/11/Pub/INS_B20-08.pdf

SB241 State of Alaska COVID-19 pandemic law at http://www.akleg.gov/basis/Bill/Detail/31?Root=SB241#tab1_4

Mortgage Loan Originators

Mortgage Broker-Lenders may require Mortgage Loan Originators (MLOs) to work from home to help prevent the spread of the COVID-19. The Division recognizes that these remote work arrangements are necessary during a state of emergency and will not take administrative or other punitive action against a licensed MLO or the sponsoring licensed company if the MLO conducts activities requiring licensure from home.

Disclaimer:

This site is provided as a public service for general informational purposes only; it does not attempt to address specific business transactions or legal disputes. This service is not intended to be legal advice, and should not be construed as a replacement for competent legal counsel.

NEW! Mortgage Lending regulation changes effective February 6, 2020.

Adopted regulation changes by the Department of Commerce, Community, and Economic Development pertaining to mortgage lending licenses and bona fide exempt organizations under 3 AAC 14.020-.990.

Headlines

Mission Statement

Protect consumers of financial services and promote safe and sound financial systems.

Anchorage
Mailing/Physical Address

550 W 7th AVE, STE 1850
Anchorage, AK 99501

Phone: (907) 269-8140
Toll-Free: (888) 925-2521
Fax: (907) 269-8146

Juneau
Mailing Address

P.O. Box 110807
Juneau, AK 99811-0807

Physical Address

(No US mail delivery)
333 Willoughby AVE, 9th FL
State Office Building
Juneau, AK 99801

Phone: (907) 465-2521
Toll-Free: (888) 925-2521
Fax: (907) 465-1230

E-Mail: dbsc@alaska.gov