State regulators today asked the Consumer Financial Protection Bureau (CFPB) to reconsider its proposed registry for nonbank businesses that are subject to public orders for violations of federal or state consumer protection laws. The proposed registry would exceed the CFPB’s authority and is not needed to identify repeat offenders, the Conference of State Bank Supervisors said in a comment letter
State financial supervisors are increasing coordination with each other through Networked Supervision, a dynamic and collaborative approach to supervision. The State Examination System ( SES) launched in 2020, is leading the way for CSBS technology platforms by allowing company exams to be conducted in a more uniform, efficient manner. Today, South Dakota Department of Labor and Regulation license examiner Paul
By CSBS Chief Economist Thomas F. Siems, Ph.D. The CSBS first quarter 2023 Community Bank Sentiment Index (CBSI) indicates that community bankers are more pessimistic than at any time since the survey’s creation in 2019. Consistent with the 2022 quarterly CBSI surveys, three of the seven components plunged the index sharply lower: future regulatory burden, monetary policy expectations, and the
By CSBS Chief Economist Thomas F. Siems, Ph.D. Last month’s high-tech bank runs, liquidity complications and subsequent closure of three high-profile banks surprised many bankers and investors. While the FDIC and the Federal Reserve acted quickly to maintain confidence by providing a higher backstop for depositors and creating greater lending capacity for all financial institutions through the Fed’s Bank Term
June is National Homeownership Month, a time to recognize the value of homeownership and encourage prospective homeowners. NMLS Consumer Access, established in accordance with the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (“SAFE Act”) to help promote consumer protection, is the website prospective homeowners can use to verify if the mortgage company or professional they are working
CSBS, on behalf of state regulators and in cooperation with the American Association of Residential Mortgage Regulators (AARMR), established the State Regulatory Registry (SRR) in 2006. SRR oversees the development and operation of NMLS. The SRR Board of Managers is responsible for system development, operations and policy matters concerning NMLS. Through NMLS, SRR promotes the interest of financial services companies
By CSBS Chief Economist Thomas F. Siems, Ph.D The CSBS fourth quarter 2021 Community Bank Sentiment Index (CBSI) indicates that community bankers are slightly more optimistic than they were in the previous quarter, but expectations on future profitability have fallen to the lowest level recorded since the survey’s inception in 2019. Similar to the previous three 2021 quarterly CBSI surveys
Blog 1 of 7: Macroeconomic Forces By CSBS Chief Economist Thomas F. Siems, Temple University Professor of Finance and CSBS Adjunct Research Scholar Jonathan A. Scott and Federal Reserve Bank of St. Louis Supervision Policy, Research and Analysis Manager Meredith A. Covington Adapting to the Digital Age Series Blog 1: Macroeconomic Forces Blog 2: Competitive Forces Blog 3: Tech Usage
Blog 2 of 7: Macroeconomic Forces By CSBS Chief Economist Thomas F. Siems, Temple University Professor of Finance and CSBS Adjunct Research Scholar Jonathan A. Scott and Federal Reserve Bank of St. Louis Supervision Policy, Research and Analysis Manager Meredith A. Covington Adapting to the Digital Age Series Blog 1: Macroeconomic Forces Blog 2: Competitive Forces Blog 3: Tech Usage