This division is responsible
for the chartering, supervision, and regulation of federally-insured state-chartered
depository institutions and certain affiliated/related entities. These institutions
include banks, savings banks, savings and loan associations, their respective holding
companies, credit unions, and banks with powers limited to trust activities.
In addition, this division is responsible for the sale of checks licensees,
including persons who engage in the selling of checks, drafts, money orders, or
other instruments for the transmission or payment of money.
This division also
and Industrial Development Corporations (BIDCOs) and Certified Louisiana Capital Companies
(CAPCOs). The BIDCO program promotes the formation of business and industrial development
corporations to help meet the financing assistance and management needs of business firms
in the State. The CAPCO program provides tax credits to companies who invest in
which in turn make equity investments in qualifying Louisiana businesses.
A vast majority of the
state-chartered depository institutions regulated by this division are in
sound financial condition. In fact, over 92 percent of these
state-chartered depository institutions are rated in the highest two
categories under current regulatory guidelines. OFI will continue to
closely oversee the financial condition of state-chartered depository
institutions in order to ensure the economic stability of the industry and
safeguard the instruments and/or deposits of the citizens of the state of
May 21, 2015