Consumer & commercial lending in Utah

Who needs this in Utah

A company that makes consumer loans to Utah residents generally needs a consumer credit / notification or license (confirm category) from Utah 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

Utah uses a consumer-credit notification or license depending on the product. File with DFI, not the Division of Real Estate, unless the product is a mortgage. File in Utah 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