WASHINGTON, D.C. - The Conference of State Bank Supervisors (CSBS) this week announced that the Montana Division of Banking and Financial Institutions has met all the requirements for professional accreditation.
CSBS is the national association of state officials responsible for chartering, supervising and regulating the nation's 6,300-plus state-chartered banks.
Commissioner Annie M. Goodwin heads the Montana Division, which is an agency of the state's Administration Department. As of March 31, 2004, the Division supervised 63 commercial banks and four non-deposit trust companies, with total commercial bank assets of $12 billion.
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 and bank holding companies. 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."