CSBS is a professional regulatory association, and its voting members and Board of Directors are exclusively state financial regulators. CSBS is governed by bylaws and a Board of Directors comprised of 20 regulator members. Directors are elected or appointed annually for one-year terms. The CSBS Board of Directors consists of the chairman, chairman-elect, vice chairman, secretary, treasurer, and immediate past chairman. The chief executive officer of CSBS is the president, who is recruited and employed by the Board of Directors.
Similar to federal financial agencies, CSBS invites bankers and other financial service industry professionals to participate in the organization in an advisory capacity. These advisory groups promote communication between state regulators and their supervised industries, and provide industry perspective on issues of interest to the state regulatory system.
In 1984, CSBS created the Education Foundation of State Bank Supervisors (EFSBS). In 2011, the EFSBS Board of Trustees voted to change the name of the foundation to the CSBS Education Foundation. The purposes of the CSBS Education Foundation are to fund and direct the education and training efforts of CSBS’s Professional Development Division. The membership of the CSBS Education Foundation is comprised solely of state bank regulators and interacts extensively with the CSBS Board of Directors. The Chairman of the CSBS Education Foundation Board of Trustees is a voting member of the CSBS Board of Directors. Other officers of the CSBS Education Foundation consist of the vice chairman, treasurer, and immediate past chairman. There are a total of 15 members of the CSBS Education Foundation Board of Trustees. The purpose of the CSBS Education Foundation is to fund and direct CSBS’s education and training efforts.
In 2006, CSBS, on behalf of state regulators, and in cooperation with the American Association of Residential Mortgage Regulators (AARMR), formed the State Regulatory Registry LLC (SRR), a limited liability corporation, to oversee the development and operations of the Nationwide Multistate Licensing System and Registry (NMLS, or the System) as a licensing and registration system for the non-depository financial services industries. The SRR Board of Managers is comprise of eight state regulators, including the chairman of the CSBS Board of Directors, who serves on the SRR Board of Managers as an ex officio, non-voting member. The SRR chairman is also a voting member of the CSBS Board of Directors. In addition to the chairman, officers of the SRR Board of Managers are the vice chairman and the CSBS treasurer. The chairman of the CSBS Board of Directors serves on the SRR Board of Managers as an ex officio, non-voting, member. AARMR also has a voting board member on the SRR Board of Managers.