Division of Banking and Financial Institutions

Montana Division of Banking and Financial Institutions Receives Reaccreditation

MEDIA RELEASE / October 20, 2009

Conference of State Bank Supervisors

1155 Connecticut Avenue NW, 5th Floor, Washington, DC 20036

MONTANA DIVISION OF BANKING AND FINANCIAL INSTITUTIONS RECEIVES REACCREDITATION

WASHINGTON, D.C. - The Conference of State Bank Supervisors (CSBS) this week announced that the Montana Division of Banking and Financial Institutions has received its second consecutive accreditation, certifying that the department maintains the highest standards and practices in state banking supervision set by the national organization's Accreditation Program.

CSBS is the national association of state officials responsible for chartering, supervising and regulating the nation's nearly 6,000 state-chartered banks.

Commissioner Annie M. Goodwin heads the Division, which is an agency of the state's Department of Administration. As of June 30, 2009, the Division supervised 64 commercial banks and one non-deposit trust company, with total commercial bank assets of $17 billion.

The division also oversees state-chartered credit unions, mortgage brokers, mortgage lenders and mortgage loan originators, consumer loan companies, sales finance companies, payday lenders, title lenders, escrow businesses and business and industrial development corporations.

CSBS accreditation seeks to strengthen state banking departments and to demonstrate the high quality of state banking departments to the general public, the federal banking agencies, Congress, and other state banking departments.

The rigorous accreditation process begins with a self-evaluation, which reviews all aspects of the department's operations, its mission, policies, procedures, funding, and statutory authority. A review team of veteran state and federal regulators visits the department to determine whether it can effectively fulfill its responsibility of chartering, regulating and supervising the state's banks. The review team reports its findings and makes a recommendation to CSBS's Performance Standards Committee, which votes on the final accreditation decision.

"Annie Goodwin and her staff run a financial regulatory agency that can take its place with the best in the country," said CSBS President and CEO Neil Milner. "This accreditation demonstrates the Division's commitment to achieving and maintaining the highest levels of quality bank supervision, which provides tremendous benefits to Montana's citizens and banks."

 "I am very proud of the dedication and professionalism of our staff, " commented Commissioner Goodwin.

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The Conference of State Bank Supervisors (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 6,000 state-chartered financial institutions. CSBS also is responsible 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 Director of Accreditation and Certification, (202) 728-5706