For Immediate Release:
September 11, 2024
Contact: Chris Slaby
CHICAGO - The Illinois Department of Financial and Professional Regulation’s (“IDFPR”) Division of Banking (“DOB”) is proud to announce it recently received reaccreditation by the Conference of State Bank Supervisors (“CSBS”), once again confirming DOB maintains the highest standards and practices in state bank supervision. Illinois was initially accredited by CSBS in 1984 and has remained accredited since then.
“I am proud of the hard work and effort put in by the IDFPR team that resulted in the reaccreditation of our Division of Banking by the Conference of State Bank Supervisors,” said Mario Treto, Jr., Secretary of IDFPR. “This achievement reflects our continued commitment to excellence in regulatory oversight and our dedication to maintaining the highest standards in safeguarding the state-chartered banks that serve our communities. The reaccreditation reaffirms our role in fostering a stable and resilient banking environment, ensuring that we remain responsive to both industry needs and consumer protection.”
IDFPR’s Division of Banking regulates and examines banks, trust companies, and savings banks chartered by the State of Illinois. DOB also has regulatory or licensing authority over mortgage banks, mortgage loan originators, student loan servicers, and pawnbrokers.
“I want to recognize the exceptional staff of the Division of Banking for making it possible to meet the high standards set by CSBS to maintain accreditation,” said Acting Director of Banking Susana Soriano. “It is an honor to receive this recognition and reaffirms our mission to ensure the safety and soundness of financial institutions in Illinois.”
CSBS is the national organization for state financial regulators in all 50 states, the District of Columbia and U.S. territories. It supports state regulators in advancing the system of state financial supervision by promoting safety and soundness, consumer protection and economic growth, as well as fostering innovative, responsive supervision. For more than 110 years, CSBS has been uniquely positioned as the only national organization dedicated to protecting and advancing the nation’s dual-banking system.
“CSBS sets rigorous standards for our accreditation programs,” said CSBS President and CEO Brandon Milhorn. “Secretary Treto and the Illinois Division of Banking’s reaccreditation demonstrates their continued commitment to meeting these high standards and further promotes a strong state supervisory system for all financial services. We commend the Division for its long-standing dedication to upholding the highest standards of financial safety and soundness, consumer protection, and networked supervision.”
The CSBS Banking Accreditation Program involves an in-depth review of an agency’s policies, procedures, and operations to determine if it meets the standards set forth by their Performance Standards Committee. For additional information on the accreditation process, please visit: www.csbs.org/department-accreditation.
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