Washington, D.C. — The Conference of State Bank Supervisors (CSBS) announced today that the West Virginia Department of Financial Institutions (the Department or DFI) has received a certificate of accreditation for banking supervision. This reaccreditation certifies that the Department maintains the standards and practices in state supervision set by the CSBS Banking Accreditation Program. This is the DFI’s fifth accreditation. Dawn E. Holstein serves as the Acting Commissioner of the Department.
“Congratulations to Commissioner Holstein and her staff for achieving banking reaccreditation,” said CSBS President and CEO John W. Ryan. “This reaccreditation shows that the West Virginia Department of Financial Institutions maintains the highest level of standards and practices in state bank supervision.”
“This re-accreditation represents all the hard work the staff at our department put in every day for West Virginians,” said Acting Commissioner Holstein. “I am proud of the Department’s unwavering commitment to efficient, effective state bank supervision.”
The CSBS Accreditation Program involves a comprehensive review of the critical elements that assure a department's ability to discharge its responsibilities. This is done through an investigation of all department operations including administration and finance, personnel, training, examination, supervision, and legislative powers. The high standards set by the CSBS Accreditation Program support CSBS’s public interest goals by encouraging state banking and mortgage departments to enhance their capability to promote safe and sound financial services with a minimum of regulatory burden and cost, and by identifying highly competent state banking and mortgage departments.
The CSBS Accreditation Program seeks to strengthen state banking and mortgage departments and to demonstrate the high quality of state banking and mortgage departments to the public, federal banking agencies, Congress and other state agencies.
More information on the CSBS Accreditation Program is available here.