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ECONOMIC INDICATORS

DEPARTMENT PERFORMANCE

DEPARTMENT PERFORMANCE

Commerce - Banking

Jeff Plagge, Superintendent

Mission Statement:
Protect the interests of those doing business with Iowa chartered banks, licensed financial service providers, and licensed professionals through regulation that ensures safety, soundness and adherence to applicable laws.                            

Measures:
Charter banks: examined timely
Financial institutions: examined per statute
Financial Institutions: complaints resolved timely
New Business Development
On-line License Renewals

MORE DEPARTMENT PERFORMANCE

  • Download PDF document  Performance Plan - How we measure our progress

  • Download PDF document  Strategic Plan - How we plan for progress

  • Download PDF document  Performance Report - How we report our progress

  • Department Home Page - Learn more about this department

 

Highlighted Measure:

Percent of state chartered banks examined within statutory time limitations.

Data Source: Dept. of Commerce, Division of Banking

 

Updated 08/02/2021

GRAPH - State Chartered Banks Examined Within Statutory Time Limitations

Why this is important:
All financial institutions chartered and licensed by the Iowa Division of Banking are operated in a safe and sound manner ensuring their safety for the citizens of Iowa. Pursuant to Section 524.217 of the Iowa Code, every state chartered bank must be examined at least once during each two-year period.

What we're doing about this:
Continue to meet its statutory requirements of 524.217.

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Highlighted Measure:

Percent of state licensed non-depository financial institutions required to be examined by statute examined.

Data Source: Dept. of Commerce, Division of Banking

 

Updated 08/02/2021

GRAPH - Financial Institutions: Examined Per Statute

Why this is important:
Regular examination of licensees ensures alternative credit is offered to Iowans in compliance with laws and regulations.

What we're doing about this:
Continue to meet the statutory requirements.

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Highlighted Measure:

Percent of complaints against licensed non-depository financial institutions resolved within 30 days.

Data Source: Dept. of Commerce, Division of Banking

 

Updated 08/02/2021

GRAPH - Financial Institutions: Complaints Resolved Timely

Why this is important:
Iowa residents deserve to receive a timely response from entities that are licensed to conduct business in the state. It is felt that 30 days is a reasonable time for a licensee to respond to a consumer complaint.

What we're doing about this:
97% of complaints are reviewed within 5 days of receipt. We will continue to strive to review all complaints within 5 days of receipt.

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Highlighted Measure:

Percent of license applications processed within 30 days.

Data Source: Dept. of Commerce, Division of Banking

 

Updated 08/02/2021

GRAPH - License Applications Procssed Within 30 Days

Why this is important:
Businesses seeking a license to conduct business in Iowa are able to begin offering their services to the public sooner when their license applications are approved quickly.

What we're doing about this:
100% of applications are reviewed within 5 days of submission. After initial review, delays are generally caused by the applicant. We will work to better communicate application shortcomings, establish deadlines for submitting additional information, and follow-up those deadlines so more licenses are granted within our 30-day timeline.

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Highlighted Measure:

Percent of on-line license renewals.

Data Source: IowaInteractive - calendar year quarterly report

 

 

Updated 08/02/2021

GRAPH - On-Line License Renewal for Professionals

Why this is important:
The Professional Licensing Bureau has the responsibility of protecting the citizens of Iowa, providing administrative support, as well as licensing and regulating over 32,000 professionals in the professions of engineering and land surveying, accountancy, architects, landscape architects, real estate brokers and salespersons, real estate appraisers and interior design.

The Bureau annually receives and investigates over 500 complaints, performs over 200 trust account audits, administers uniform national exams to more than 2,000 candidates yearly, registers approximately 1,000 new individuals yearly, and renews over 13,000 individuals and firms.

The Professional Licensing Bureau utilizes an on-line license renewal for all professions but one. The goal is to have 95% renewal on-line. The on-line license renewal process is an efficiency measure that allows for a reduction in the amount of personnel time, office supplies, and postage expended for this process and will give the professional a more expedient response from the bureau. When license renewals are not delayed it assures a more safe profession for the citizens of Iowa.

What we're doing about this:
The Professional Licensing Bureau is continuing to work with the Office of the Chief Information Officer (OCIO) and the division's IT staff to create a new database and upgraded on-line license renewal system that is reliable and has the capability to renew all of our professions. Relilability has been a problem with the current system and it is believed that this has caused a lower percentage of those renewing on-line. With the new renewal system, it is anticipated that additional postage and staff time will be conserved.

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