For Immediate Release: June 27, 2024
Wisconsin DFI Earns Bank Regulatory Program Reaccreditation from the Conference of State Bank Supervisors
MADISON, Wis. – The Wisconsin Department of Financial Institutions (DFI) today announced the agency’s Division of Banking and its bank regulatory program have earned reaccreditation status from the Conference of State Bank Supervisors (CSBS). The reaccreditation certifies that the DFI’s Division of Banking and its bank regulatory program maintain top national standards and practices for state supervision set by the CSBS accreditation program. The reaccreditation is valid for five years.
“We are pleased our Division of Banking’s bank regulatory program received reaccreditation from the Conference of State Bank Supervisors,” said DFI Secretary Cheryll Olson-Collins. “This professional recognition affirms our agency is meeting superior regulatory standards and demonstrates we serve the people of Wisconsin through operating an effective, skilled, and professional program with bank safety and soundness at the forefront of our supervision. We look forward to continuing to meet these standards for years to come.”
The DFI’s Division of Banking’s bank regulatory program supervises 133 federally insured Wisconsin state-chartered banks, including 119 commercial banks and 14 savings institutions, with total assets of over $75 billion. In addition, the division supervises four non-depository trust companies and 17 of its supervised banks exercise trust powers. The DFI’s Division of Banking's bank regulatory program was last reaccredited by CSBS on June 11, 2019. The program was initially accredited on August 8, 1988.
CSBS established its accreditation program to identify highly competent state bank departments, promote safe and sound financial services, and ensure consumer protection. To earn CSBS accreditation, bank regulatory programs must undergo a rigorous and comprehensive independent review of their operations, including administration and finance, personnel, training, examination, supervision and legislative powers. For additional information, visit the CSBS accreditation program webpage.
###
Media Contact Email: DFICommunications@dfi.wisconsin.gov