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DIVISION OF FINANCIAL INSTITUTIONS RECEIVES NATIONAL BANK ACCREDITATION

 

 

The Ohio Department of Commerce’s Division of Financial Institutions received its third bank certificate of accreditation from the Conference of State Bank Supervisors (CSBS) during an Ohio Bankers Day ceremony today in Columbus.  Neil Milner, President and CEO of CSBS, presented the accreditation certificate to David Arnold, Deputy Superintendent for Banks.  

 

The Division of Financial Institutions regulates Ohio’s 121 state-chartered banks to ensure the safety and the soundness of the institutions.  CSBS is accrediting the division’s bank regulatory operations from 2001 - 2006. 

 

CSBS accredited the division after it completed a comprehensive review of its standards and practices in bank supervision.  CSBS evaluated the division’s administration and finances, personnel policies and practices, training programs, examination policies and practices, supervisory procedures, and statutory powers. 

 

“The Division of Financial Institutions is proud to have received the accreditation of the Conference of State Bank Supervisors,” said F. Scott O’Donnell, Superintendent of Financial Institutions.  “We compliment our bank examination staff for their efforts to maintain the highest quality of state bank supervision.  The division is committed to maintaining the highest standards as we work to ensure the safety and soundness of our state-chartered banks.”

 

In addition to Ohio, 44 other state banking regulators are accredited through CSBS. 

 

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The Ohio Department of Commerce’s Division of Financial Institutions regulates Ohio’s state-chartered banks, savings and loans/savings banks, and credit unions.  The Division also regulates consumer finance companies.  In addition, the Department of Commerce regulates securities, industrial compliance, fire codes, unclaimed funds, liquor, and real estate, among other industries.   The department's internet address is www.com.state.oh.us

 

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