Prairie State Wire

The Illinois Department of Financial and Professional Regulation's (IDFPR) Division of Banking (DOB) has announced its recent reaccreditation by the Conference of State Bank Supervisors (CSBS). This reaffirmation continues a legacy that began in 1984 when Illinois first achieved CSBS accreditation.

"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."

The DOB regulates and examines banks, trust companies, and savings banks chartered by Illinois. Additionally, it oversees 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 represents state financial regulators across all 50 states, as well as Washington D.C. and U.S. territories. It aims to advance state financial supervision through promoting safety, soundness, consumer protection, economic growth, and innovative supervision practices. For over 110 years, CSBS has uniquely focused on protecting and advancing America's dual-banking system.

"CSBS sets rigorous standards for our accreditation programs," stated 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 entails an extensive review process assessing an agency's policies, procedures, and operations against established performance standards.

For more information on the accreditation process: www.csbs.org/department-accreditation.