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Georgia Department of Banking and Finance Reaccredited By CSBS

Georgia Department of Banking and Finance Reaccredited By CSBS

May 14, 2008


Conference of State Bank Supervisors
1155 Connecticut Avenue, NW, 5th Floor, Washington, DC 20036
 

Washington, D.C. -- The Conference of State Bank Supervisors announced this week that the Georgia Department of Banking and Finance has received its fourth consecutive certificate of accreditation from CSBS, certifying that the department maintains high standards and practices in state banking supervision.

CSBS reaccredited the department for a five-year period on May 8, 2008. Georgia DBF was first accredited by CSBS on December 1, 1992, and as of December 31, 2007, supervised 290 commercial banks with total assets of $265.7 billion.

The Department is the state agency that regulates and examines Georgia state-chartered banks, credit unions, and trust companies. The DBF also has regulatory and/or licensing authority over mortgage brokers, lenders, and processors; sale of check companies, check cashers, money transmitters, international banking organizations, and bank holding companies conducting business in Georgia.

"We are pleased to be recognized by our peers for this achievement," said Rob Braswell, CEM, Georgia's Commissioner of Banking and Finance.

The accreditation review begins with completion of an extensive self-evaluation questionnaire on all department operations: administration and finance, personnel, training, examination, supervision, and legislative powers. Next, an external review team comprised of veteran state and federal regulators performs an on-site review and presents its findings to an audit team and to the Performance Standards Committee, which votes on the reports of the review team and the audit team.

The report and scores are based on documentary evidence, such as a random sample of examination reports and other files. The CSBS Review Team conducted a thorough review of the Department’s self-evaluation questionnaire, interviewed key management personnel and a cross section of examiners and reviewed the reports of examination.

"The accreditation process provides an objective critical analysis to ensure we are current in our examination policies and procedures," Braswell said. "It also confirms that we employ nationally recognized best practices in regulatory supervision and oversight."

"Commissioner Braswell and his staff are to be congratulated on establishing and maintaining the high standards set by the program. To maintain their accreditation, state banking departments must work to keep up with the changing industry that they regulate. The Georgia DBF has demonstrated that it has met this challenge," said CSBS President and CEO Neil Milner.

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CSBS is the nationwide organization for state banking, representing the bank regulators of the 50 states, the District of Columbia, Guam, Puerto Rico and the Virgin Islands, and approximately 6,200 state-chartered financial institutions. The Conference is responsible for defending state authority to determine banking structure and the products and services state-chartered institutions can offer and for improving the quality of state bank supervision by providing department performance evaluation and accreditation programs and supervisory education/training programs for state banking department personnel.

Information Contact: Georgia High, CSBS Vice President of Accreditation and Certification, (202) 728-5706, ghigh@csbs.org