Dwight Young has been appointed as the state's new Banking Commissioner, a role that involves ensuring the safety and soundness of state-chartered and state-licensed financial institutions. The position also requires overseeing regulatory compliance to protect depositors, borrowers, consumers, and other members of the public.
The Division of Financial Institutions (DFI) is divided into two branches: the Examination Branch and the Licensing and Regulatory Analysis Branch. The Examination Branch conducts on-site examinations of various financial entities, while the Licensing and Regulatory Analysis Branch handles licensing activities, regulatory approvals, and off-site monitoring.
Young's career with DFI began in 2008 as a Licensing Examiner. He was promoted to Licensing Manager in 2015. Before joining DFI, Young spent 20 years in banking as an Operations Manager and Branch Manager.
"Experience as a banker in the local community has enriched my perspective as a public servant and regulator," Young stated. "I have experienced both sides of the financial industry and more importantly have assisted consumers from both perspectives."
Nadine Ando, director of the Department of Commerce and Consumer Affairs, expressed enthusiasm for Young's appointment: “We are excited to have Dwight Young take on this leadership role as the state’s Banking Commissioner. His background in the financial industry paired with his commitment to the community make him a valuable advocate for Hawai‘i consumers.”