Washington, D.C. — North Dakota Department of Financial Institutions Commissioner and Financial Stability Oversight Council (FSOC) State Banking Supervisor Representative Lise Kruse statement from today’s FSOC meeting: "I would like to start by commending Secretary Bessent, along with the federal banking agencies, for their attention to this important issue. On this Council, I represent the state banking agencies, who charter
“We are disappointed that the CFPB is proceeding with its Public Orders Registry and stand by the concerns expressed by state regulators during the consultation process and in CSBS’s comment letter. CSBS’s primary focus now is to help ensure alignment between the CFPB’s Registry and the Nationwide Multistate Licensing System to prevent consumer and industry confusion and redundant reporting. We
Welcome! It is so great to see all of you – I enjoy and appreciate that we are able to be here in person. Thank you, St. Louis Federal Reserve, for again hosting this event. This conference presented by state and federal regulators is a testament to our nation’s dual-banking system - which I believe helps make our economy the
“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
Static and outdated regulatory thresholds impede a dynamic banking system and can create unnatural barriers that limit a community bank’s growth. State supervisors consistently have called on federal policymakers – whether before Congress or the federal regulatory agencies – to update rules and supervisory approaches to account for economic growth and changes in the banking industry. This week, CSBS stated
“State supervisors commend the CFPB for rescinding its Nonbank Public Orders Registry. Requiring nonbank entities to register and report a wide range of agency and court orders was redundant and exceeded the agency’s authority. States and the CFPB already report a significant share of covered public orders through the Nationwide Multistate Licensing System & Registry (NMLS). This information is available
In revising its existing procedures and standards with respect to CIDs and associated processes, we encourage the CFPB to do so in a manner that recognizes that state regulators serve as the primary regulators of non-depositories
Bureau of Consumer Financial Protection Office of Management and Budget Attn: OMB Desk Officer New Executive Office Building, Room 10235 Washington, DC 20503 Docket No. BCFP-2018-00024 Re: Request for Comment Regarding the Bureau’s Consumer Complaint Intake System Company Portal Boarding Form Dear Office of Management and Budget: The Conference of State Bank Supervisors (“CSBS” or “state regulators”) appreciates the opportunity
The Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, the Office of the Comptroller of the Currency, and state financial regulators, collectively the agencies, recognize the serious impact of Hurricane Idalia on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies