The banking industry in Tennessee is regulated by both state and federal laws. These laws set the standards for financial institutions and protect consumers and their assets. Understanding the banking laws in Tennessee is essential for both financial institutions and consumers. Here’s a comprehensive guide to help you navigate the complexities of banking laws in the state. The Tennessee Department of Financial Institutions (TDFI) is the regulatory authority in the state that supervises and examines state-chartered banks and credit unions. The TDFI also regulates mortgage loan originators and mortgage lenders. The Federal Reserve Bank of Atlanta supervises and examines federally-chartered banks and thrifts in Tennessee. Licensing Requirements for Banks in Tennessee To operate a banking institution in Tennessee, you must obtain a bank charter from the TDFI. There are two types of bank charters that your institution can apply for – state and federal. State-chartered banks are regulated b...
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