FinCEN should be more explicit in its inclusion of state regulators as agencies that can request access to its forthcoming beneficial ownership information database, the Conference of State Bank Supervisors (CSBS) said in a comment letter submitted today. The Corporate Transparency Act requires a wide range of entities to report their beneficial ownership information to FinCEN. It also tasks FinCEN

Washington, D.C.— State financial regulators released an updated cybersecurity examination tool for nonbank financial company supervision during the ongoing Nationwide Multistate Licensing System (NMLS) Annual Conference. The tool is designed for state regulator use in examinations, and companies are encouraged to use it to assess their cybersecurity health between examinations. This tool is the newest component of state regulators’ cybersecurity

Washington, D.C. — New York State Department of Financial Services Superintendent and Financial Stability Oversight Council (FSOC) state banking representative Adrienne A. Harris statement on  FSOC 2023 Annual Report. “I’d like to thank the Treasury staff and detailees for putting together this year’s annual report. I know it is no small undertaking, and your efforts have not gone unnoticed. This report is an

Department Accreditation What is Accreditation? The CSBS Accreditation Program involves an in-depth review of an agency’s policies, procedures, and operations to determine if it meets the standards set forth by the Performance Standards Committee (PSC). A state seeking accreditation for the first time or a state seeking its five-year re-accreditation must complete the self-evaluation questionnaire (SEQ), which includes several sections

The Conference of State Bank Supervisors (CSBS) this week filed an amicus brief in the 9th Circuit Court of Appeals to highlight the importance of upholding state consumer protection laws when erroneously challenged by national banks. It is the third such amicus brief since the Supreme Court’s unanimous decision in Cantero v. Bank of America that courts must take a

Washington, D.C. – The federal banking agencies’ capital proposal is misguided and unjustified, the Conference of State Bank Supervisors (CSBS) said in comments filed today. Without significant changes, state regulators are concerned that the proposal could disrupt the United States economy. After a decade of reform, the banking system has strong capital levels and is more resilient. However, the Basel

Washington, D.C. – The Conference of State Bank Supervisors (CSBS) is pleased to share that its Community Bank Sentiment Index (CBSI) has been added to the Federal Reserve Economic Data, the online database maintained by the Federal Reserve Bank of St. Louis informally known as the FRED. The FRED includes economic data time series from a range of sources. Data

Washington, D.C. – The Conference of State Bank Supervisors (CSBS) is pleased to share that its Community Bank Sentiment Index (CBSI) has been added to the Federal Reserve Economic Data, the online database maintained by the Federal Reserve Bank of St. Louis informally known as the FRED. The FRED includes economic data time series from a range of sources. Data

Washington, D.C. – Six student teams from across the nation have advanced to the second round of the 2023 Data Analytics Competition, the Conference of State Bank Supervisors announced today. The annual competition this year required students to develop a data analytics model that examines the potential impact on banks, such as earnings, deposits and asset quality, from the recent

Washington, D.C . – CSBS announced a public comment period for proposed uniform state licensing standards for mortgage companies. “Adopting a standardized approach for mortgage industry licensing will help increase uniformity within the state system,” said Vickie Peck, CSBS executive vice president of products and solutions. “In turn, uniform standards will streamline the licensing process for mortgage companies seeking licensure