Categorized | Business

Division of Financial Institutions receives accreditation

MEDIA RELEASE

The Conference of State Bank Supervisors (CSBS) is pleased to announce the Hawaii Division of Financial Institutions has received accreditation, verifying the division maintains the highest standards and practices in state bank supervision established by the CSBS Accreditation Program.

The division was first accredited in March 1990. This is the division’s fourth reaccreditation.

Part of the Hawaii Department of Commerce & Consumer Affairs, the Hawaii Division of Financial Institutions ensures the safety and soundness of state-chartered and state-licensed financial institutions.

The division also ensures regulatory compliance by state-licensed financial institutions, escrow depositories, money transmitters, mortgage servicers, mortgage loan originators, and mortgage loan originator companies by administering applicable statutes and rules.

Led by Commissioner Iris Ikeda Catalani, the division is responsible for protecting the rights and funds of depositors, borrowers, consumers, and other members of the public.

“We are pleased that our division has been recognized for protecting consumers, providing appropriate oversight and informing the public about their rights when dealing with our banks. Our staff should be commended as they continue to meet the new expectations set for them in the evolving regulatory environment and current financial services industry,” Ikeda Catalani said.

“This reaccreditation is a tremendous achievement for Commissioner Ikeda Catalani and her talented staff,” said John W. Ryan, President and CEO of CSBS. “I commend the entire division for this accomplishment, which illustrates the division’s ability to ensure safety and soundness and consumer protection for the citizens of Hawaii.”

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