Founded in 1957, the Illinois Division of Financial Institutions is a regulatory agency that serves the residents of Illinois under the express control and administrative jurisdiction of the governor. Its charter provides the authority to regulate, license, examine and investigate currency exchanges, credit unions, money transmitters, and consumer finance and title insurance companies. The division is divided into four operating sections that include consumer credit, credit union, currency exchange and title insurance. Its consumer credit division provides licenses to nonbanking financial institutions that provide consumer loans, finance retail purchases and rent safe deposit boxes. The division also exchanges foreign currency, issues negotiable instruments, and provides financial planning and management services. The Illinois Division of Financial Institutions is located in Springfield, Ill.