Which is not a power of the Department of Financial Institutions?

The Department of Financial Institutions possesses various powers to regulate and oversee the mortgage and financial sectors effectively. Among these, conducting audits of mortgage companies, issuing licenses for loan originators, and investigating consumer complaints are fundamental functions of the department.

Adopting rules necessary to enforce the Utah Residential Mortgage Practices and Licensing Act is indeed a power of the department; however, it is not an action that is often independently recognized as part of their core operations. Instead, the department focuses on regulatory enforcement through existing laws rather than the rule adoption process itself, which can often fall under legislative functions or broader regulatory authority.

Thus, identifying rule adoption as not a direct power highlights the nuances in regulatory frameworks. While the Department does enforce the rules, the specific adoption of these rules is outside its direct operational capabilities and often involves other legislators or commissions. This distinction is crucial for understanding the division of powers between regulatory bodies and legislative actions.