•March 9, 2016•

Illinois Department of Financial and Professional Regulation (IDFPR) Secretary Bryan A. Schneider was recently appointed to the Non-Depository Supervisory Committee of the Conference of State Bank Supervisors (CSBS). The newly created committee will provide oversight of and support for multi-state, non-depository supervisory matters and provide advice on non-depository policy development. Non-depository financial institutions serve as an intermediary between savers and borrowers, but do not accept time deposits. In Illinois, IDFPR Division of Banking oversees the regulation and licensure of non-depository financial institutions, such as mortgage banks, payday loans, pawnbrokers and title loan companies.

“With his extensive regulatory and financial background, Secretary Schneider will be invaluable as a member of this national committee,” said Governor Bruce Rauner. “By serving in this capacity, Secretary Schneider ensures Illinois has effective representation in shaping national regulatory policies that impact the financial services that the people of our state depend upon.”     Login or Subscribe to read the rest of this story.