Important Notices

June 06, 2011

California Department of Financial Institutions Receives National Accreditation

The Department of Financial Institutions (DFI) has received professional accreditation from the Conference of State Bank Supervisors (CSBS), certifying that DFI maintains the highest standards and practices in state banking supervision.

As of yearend 2010, DFI supervised 201 banks with assets of $255.1 billion, seven non-depository trust companies and 31 foreign banking operations.

The CSBS Accreditation Program identifies banking departments that serve the citizens of their state by operating a capable and professional regulatory program. DFI is required to complete annual reviews to maintain its accredited status and also undergo a complete re-accreditation process every five years. DFI was first accredited in 1990 and has maintained its accreditation for over twenty years.

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.

For a link to the press release click here.