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#313177 - 02/07/05 02:28 PM Illinois State Examiners
Anonymous
Unregistered

Hello. We just opened a new Illinois chartered bank. Just wondering about the State Examiners hot buttons. I'm assuming they are deep into BSA like every other regulator. Wondering if anyone had insight on their other hot issues. Your input is appreciated!

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#313178 - 02/11/05 06:13 PM Re: Illinois State Examiners
Anonymous
Unregistered

In addition to BSA/OFAC/USA PATRIOT Act, recent hot issues have included: GLBA 501b, state privacy statutes IBA 45.1 and general risk management. The Illinois IT examiners tend to be picky. Some of the issues are driven by whom is the federal regulator - FRB or FDIC. However, I believe as a de novo, you will receive alternating exams at 6 month intervals for a while.

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#313179 - 02/11/05 09:32 PM Re: Illinois State Examiners
Anonymous
Unregistered

Sorry - the correct citation is IBA 48.1 for privacy issues.

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#313180 - 02/14/05 06:04 PM Re: Illinois State Examiners
Anonymous
Unregistered

Thank you for your input! It's appreciated. Have a great day!

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#313181 - 03/21/05 10:43 PM Re: Illinois State Examiners
Anonymous
Unregistered

As a denovo, you exams will likely be done jointly by the State and Federal Regulator until you are off denovo status(5 years I believe).

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#313182 - 03/21/05 10:44 PM Re: Illinois State Examiners
Anonymous
Unregistered

As a denovo, your exams will likely be done jointly by the State and Federal Regulator until you are off denovo status(5 years I believe).

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#313183 - 03/21/05 11:19 PM Re: Illinois State Examiners
Roscoe01 Offline
New Poster
Joined: Mar 2005
Posts: 4
I think the denovo status is 3 years.

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