The Federal Financial Institutions Examination Council (FFIEC) today issued a new booklet in the FFIEC Information Technology Examination Handbook series, titled “Architecture, Infrastructure, and Operations.” The booklet provides expanded guidance to help financial institution examiners assess the risk profile and adequacy of an entity’s information technology architecture, infrastructure, and operations. The new booklet replaces the “Operations” booklet issued in July
Washington, D.C. — State financial regulators today urged the U.S. Department of Education to rescind recent policies that interfere with state regulation of federal student loan servicers and debt collectors. Under the Trump Administration, the Education Department enacted policies that prevented state financial regulators from supervising federal student loan servicers and providing consumer protections available under state law. In a
Washington, D.C. – Community bankers’ assessment about future economic and financial conditions continues to indicate a positive economic outlook, according to the most recent Community Bank Sentiment Index (CBSI). The Conference of State Bank Supervisors (CSBS) released the second quarter 2021 CBSI results today, collecting data from community banks across the nation during the month of June. The results showed a
Washington, D.C. – The Conference of State Bank Supervisors (CSBS) Board of Directors today released model state regulatory prudential standards for nonbank mortgage servicers. “The standards provide states with uniform financial condition and corporate governance requirements for nonbank mortgage servicer regulation while preserving local accountability to consumers,” said CSBS President and CEO John W. Ryan. By adopting the standards, states
Washington, D.C. – State-chartered banks were the primary distributor of relief funds to communities, according to a new data analysis by the Conference of State Bank Supervisors (CSBS). The analysis matched recently available loan-level Paycheck Protection Program (PPP) data with lender demographic data, providing the first estimate of how different types of lenders originated PPP loans for small businesses. “This
Washington, D.C.—The Conference of State Bank Supervisors (CSBS) today released the Money Transmission Modernization Act for state adoption as part of states’ broader effort to modernize the state financial regulatory system. In addition to supervising 79% of U.S. banks, state financial agencies are the primary regulator of the nation’s nonbank financial sector, which includes mortgage lenders and servicers, consumer finance
Washington D.C. – The lingering effect of the Covid-19 pandemic on local economies has created a new concern for community banks: historic levels of deposits and narrow net interest margins, according to the Conference of State Bank Supervisors’ (CSBS) eighth annual national community bank survey. The survey of nearly 500 community bankers nationwide reveals a shift from last year, when
Introduction Shortly after I was sworn in as Chairman of the FDIC in June of 2018, one of the first speeches I gave was at this conference. I had followed this conference for years in my former life and have come to understand and appreciate its value. I was just as delighted and honored to be able to speak before
Governor Michelle W. Bowman At the Community Banking in the 21st Century Research and Policy Conference, St. Louis, Missouri (virtual conference) Good afternoon. I'm pleased to be able to join you again virtually for this year's Community Banking in the 21st Century research and policy conference. Although I think we would all prefer to be together in person, in the