Friday, 02 22, 2013
Kelly May, Public Information Officer
FRANKFORT, Ky. – (Feb. 22, 2012) – Sarah Butler has joined the team at the Department of Financial Institutions (DFI) as the director of the Division of Nondepository Institutions.
As division director, Butler is responsible for the regulation of nondepository institutions operating in Kentucky, including consumer loan companies, industrial loan companies, mortgage loan companies and brokers, mortgage loan originators and processors, check cashers, and money transmitters. Through its Compliance and Consumer Protection branches, the division examines companies, licenses and registers entities and individuals, and investigates complaints and suspicious activity. The division also provides educational materials and outreach to protect consumers from financial fraud.
“The nondepository area is facing significant changes now, and consumer protection remains an important part of DFI’s mission,” said Butler. “Having a banking and regulatory background allows me to see both sides – to look at situations from the consumer’s standpoint and also from the institution’s standpoint. I hope to help the division strengthen and build on its current processes, which are already working well.”
Butler has 23 years of experience in banking and lending. From 2009 to 2012 she was a loan review specialist and risk management examiner for the Federal Deposit Insurance Corporation. Prior and since then she worked in commercial lending and banking in Kentucky and Florida. She earned a bachelor’s degree in business administration from Barry University in Florida and an MBA from Palm Beach Atlantic University.
DFI, http://kfi.ky.gov, is an agency in the Public Protection Cabinet. For more than 100 years it has supervised the financial services industry by examining, chartering, licensing and registering various financial institutions, securities firms and professionals operating in Kentucky. DFI’s mission is to serve Kentucky residents and protect their financial interests by maintaining a stable financial industry, continuing effective and efficient regulatory oversight, promoting consumer confidence, and encouraging economic opportunities.