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FINANCIAL INSTITUTIONS AGENCY ACCREDITED

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The Utah Department of Financial Institutions, headed by Commissioner G. Edward Leary and mandated to supervise 25 of state-chartered banks with more than $3.6 billion in assets, has received accreditation from the Conference of State Bank Supervisors.

During a ceremony in the State Capitol, Leary said the accreditation is important to all Utahns because it shows the department is a quality regulator.To receive the honor, the department filled out a self-evaluation questionnaire, which reviewed the agency's mission, policies, procedures, funding and statutory authority.

Next, a review team of veteran state and federal regulators visited the department to determine it if filled it responsibility of chartering, regulating and supervising the state's banks and bank-holding companies.

Utah is the 32nd state to be accredited by CSBS.