CA DBO Banks, Mortgage Programs Pass Accreditation Tests by Conference of State Bank Supervisors

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SACRAMENTO – The California Department of Business Oversight (DBO) today announced its Banks and Mortgage divisions have passed accreditation evaluations by the Conference of State Bank Supervisors (CSBS).  CSBS officials informed DBO of the development today.The Banks Division won re-accreditation from the CSBS, and the Mortgage Division received its first-ever accreditation on its first try.

“This is great news and a source of immense pride for me and the entire DBO,” said DBO Commissioner Jan Lynn Owen.  “The results show we are serving Californians and our licensees effectively, efficiently and professionally.  And they reflect a lot of hard work by a lot of dedicated public servants.”

Accreditation involves a comprehensive review of critical program elements to assess the ability of banking and mortgage regulatory programs to carry out their responsibilities.  The review assesses:

• Administration and finances
• Personnel policies and practices
• Training programs
• Examination policies and practices
• Supervisory procedures
• Statutory powers