Audit cites mega-agency problems
SPRINGFIELD – A state audit of the Department of Financial and Professional Regulation reported a host of problems Thursday, ranging from a failure to meet the agency's own deadlines for investigating professional disciplinary cases to inconsistent policies and inefficient procedures.
About 10 percent of the state's 12 million residents are licensed through the agency, which is a combination of the former departments of financial regulation, insurance and financial institutions and the former Office of Banks and Real Estate.
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