Washington, D.C. — The Conference of State Bank Supervisors (CSBS) announced today that the Louisiana Office of Financial Institutions (OFI or the Office) has received a certificate of accreditation for banking and mortgage supervision, certifying that the Department maintains the standards and practices set by the CSBS Accreditation Program. This is the Office’s sixth banking accreditation and second mortgage accreditation. The OFI, led by Commissioner John P. Ducrest, was first accredited in 1989 for banking and in 2010 for mortgage.
“Congratulations to Commissioner Ducrest and all the staff at the Office of Financial Institutions,” said CSBS President and CEO John W. Ryan. “This re-accreditation demonstrates that the Louisiana OFI maintains the highest standards in supervision.”
“I’m very pleased that the OFI has received re-accreditation,” said Commissioner Ducrest. “This re-accreditation validates the hard work and perseverance of our staff, and confirms their dedication to ensuring the safety and soundness of Louisiana’s financial institutions.”
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.
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Catherine Woody, Vice President of Media and Industry Relations, cwoody (at) csbs (dot) org or 202.728.5733
Rockhelle Johnson, Senior Manager, Communications, rjohnson (at) csbs (dot) org or 202.407.7156
Matt Longacre, Manager, Communications, mlongacre (at) csbs (dot) org or 202.803.8091
The Conference of State Bank Supervisors (CSBS) is the nationwide organization of banking regulators from all 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. State banking regulators supervise approximately 5,000 state‐chartered financial institutions. Further, most state banking departments also regulate a variety of non-bank financial services providers, including mortgage lenders. For more than a century, CSBS has given state supervisors a national forum to coordinate supervision of their regulated entities and to develop regulatory policy. CSBS also provides training to state banking and financial regulators and represents its members before Congress and the federal financial regulatory agencies.