“State regulators are pleased that the Federal Reserve Board of Governors is fully seated. We congratulate Federal Reserve Governor Phillip Jefferson on his confirmation as Vice Chair, Federal Reserve Governor Lisa Cook on her new Board term and Adriana Kugler on her new role as Governor. We look forward to working with the entire Board of Governors to support the

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. – In separate letters to the U.S. Treasury Department and the federal banking agencies, CSBS outlined important policy considerations to foster a national regulatory framework for stablecoins and tokenized deposits that protects consumers, promotes financial stability, and provides a level playing field for traditional financial institutions and new payment stablecoin issuers. “Stablecoin and tokenized deposit efforts should proceed

Washington, D.C. – The federal financial regulatory agencies have a prime opportunity to address unnecessary, unlawful, or unduly burdensome regulations, the Conference of State Bank Supervisors (CSBS) outlined in a letter to the Office of Management and Budget. CSBS highlighted several regulations that the federal financial regulatory agencies should promptly rescind or modify in light of Executive Orders 14219 and

Washington, D.C. - Statement from CSBS President and CEO Brandon Milhorn on the U.S. Senate’s confirmation of Federal Reserve Board Governor Michelle Bowman as Vice Chair for Supervision: “CSBS congratulates Governor Bowman on her confirmation as the Federal Reserve Vice Chair for Supervision. She brings an invaluable perspective to the role, having previously served as a state bank supervisor and

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

CSBS President and CEO Jim Cooper Statement on Senate Confirmation of Michael Barr as Federal Reserve Board of Governors Vice Chair for Supervision “State regulators congratulate Michael Barr on his confirmation as the Vice Chair for Supervision. He serves an important role that requires close coordination with state regulators and the banking industry. It is also crucial to have a

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

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.