The Conference of State Bank Supervisors (CSBS) has developed this paper, Reengineering Nonbank Supervision, to serve two primary purposes. First, as a stakeholder awareness document covering state supervision of the nonbank marketplace; and second, as a change document or roadmap to assist state supervisors in identifying the current state of supervision and making informed changes to state supervisory processes. The paper is comprised of several standalone chapters that together will cover the industry supervised by state nonbank financial regulators, the existing system of supervision for nonbanks, and the challenges and opportunities for state supervisors in reengineering that system.
State financial regulators are the primary regulators of nonbanks operating within the United States. This research paper will contribute research and engage discussion on possible actions that might be taken.
Did you know that state regulators protect consumers in the financial marketplace? Today, millions of Americans use safe and innovative financial products provided banks and nonbanks supervised by states. We all know that banks provide financial deposits and take deposits. But what is a Nonbank?
STATEMENT FOR THE RECORD FROM THE CONFERENCE OF STATE BANK SUPERVISORS TO THE TASK FORCE ON FINANCIAL TECHNOLOGY OF THE U.S. HOUSE COMMITTEE ON FINANCIAL SERVICES HEARING ON “LICENSE TO BANK: EXAMINING THE LEGAL FRAMEWORK GOVERNING WHO CAN LEND AND PROCESS PAYMENTS IN THE FINTECH AGE” SEPTEMBER 29, 2020 I. Introduction The Conference of State Bank Supervisors (CSBS) thanks the
A new series of CSBS papers will describe the various business segments within the nonbank industry, explain how they are currently licensed and supervised by state financial regulators, and discuss issues affecting regulatory changes going forward
February 13, 2020
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Money Services Businesses
The Money Transmission Modernization Act is a single set of nationwide standards and requirements to modernize the supervision and regulation of money transmitters.