South Dakota Banking Division Nationally Accredited

The South Dakota Division of Banking has received a certificate of accreditation from the Conference of State Banking Supervisors (CSBS). This latest accreditation is the Division’s third consecutive five-year accreditation.

“South Dakota has an experienced team of banking regulators,” said state Labor and Regulation Secretary Marcia Hultman. “The Division practices the highest standards while serving the public and our banks, trust companies and other financial institutions.”

The CSBS Accreditation Program involves a comprehensive review of the critical elements that assure a banking 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 accreditation process is time consuming and demanding, but demonstrates our commitment to quality supervision,” said Banking Director Bret Afdahl. “It makes us better at what we do by measuring us against independent, peer-reviewed standards.”

The Division of Banking promotes the safety and soundness of state-chartered financial institutions by identifying, monitoring and addressing risks to those institutions to protect public interests.

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