Consumer & commercial lending in North Dakota

Who needs this in North Dakota

A company that makes consumer loans to North Dakota residents generally needs a money-broker / consumer-finance license (confirm category) from North Dakota Department of Financial Institutions when the product, rate, or amount crosses the state’s trigger. Banks and credit unions lending under a charter are usually exempt. Commercial-purpose loans often sit outside the consumer statute — confirm before you treat a business loan as unlicensed.

Where to file

Use the DFI checklist to pick money-broker versus consumer-finance versus other authorities. File in North Dakota because the borrower lives there, not because your office does.

Federal overlay

TILA / Regulation Z, ECOA, FCRA, and CFPB supervision sit on top of the state license. A state license does not create a federal charter.

Sources

• NMLS / CSBS state agency contacts