CSBS President and CEO James M. Cooper Statement on FDIC Board Chair Nomination Washington, D.C. – “Today’s announcement from the White House means that none of the nominees to the FDIC Board will meet the requirement for state bank supervisory experience. This requirement is not only the law but also a great benefit for consumers and the banking sector when
Community Banks Adapting to the Digital Age Blog Series Guests: CSBS Chief Economist Thomas F. Siems Federal Reserve Bank of St. Louis Supervision Policy, Research and Analysis Manager Meredith A. Covington Temple University Professor of Finance and CSBS Adjunct Research Scholar Jonathan A. Scott In this episode, we explore how community banks are adapting to a changing digital landscape by
Statement by CSBS President and CEO Brandon Milhorn on recently introduced legislation to reform or repeal the Consumer Finance Protection Bureau’s small business loan data collection requirements established under Section 1071 of the Dodd-Frank Act. “The CFPB final rule implementing section 1071 missed the mark. By going well beyond the data elements required by the law, the rule imposed unnecessary
Statement from CSBS President and CEO John W. Ryan on Rohit Chopra Confirmation as CFPB Director: “State financial regulators look forward to continued partnership with the CFPB under the leadership of Director Chopra. Our work with the CFPB is a model for state-federal regulatory partnership and has served to protect consumers and ensure their access to a wide range of
As the administrative record makes clear, the FDIC’s corporate governance proposal is ill-conceived and must be withdrawn. The FDIC’s rule would impose a one-size-fits-all mandate on institutions that would intrude on over a century of state fiduciary laws.
INTRODUCTION I’d like to start by thanking the Federal Reserve, the FDIC, and the OCC for organizing – and particularly to the Federal Reserve Bank of Chicago for hosting – this event and creating a forum for us to share information and discuss opportunities for improving the strength and well-being of the financial services industry. It is through an open
The Office of the Comptroller of the Currency, Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of tornadoes on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions
WASHINGTON, D.C. – The Federal Financial Institutions Examination Council (FFIEC) today announced the availability of data on 2022 mortgage lending transactions reported under the Home Mortgage Disclosure Act (HMDA) by 4,460 U.S. financial institutions, including banks, savings associations, credit unions, and mortgage companies. The HMDA data are the most comprehensive publicly available information on mortgage market activity. The data are used
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Hawaii Department of Commerce and Consumer Affairs’ Division of Financial Institutions, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of the recent Hawaii wildfires on the customers and operations of many financial
The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators, collectively the agencies, recognize the serious impact of Hurricanes Fiona and Ian on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected
