Federal and State Financial Regulatory Agencies Issue Interagency Statement on Supervisory Practices Regarding Financial Institutions Affected by Tornadoes The Office of the Comptroller of the Currency, Federal Reserve Board, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the state regulators, collectively the agencies, recognize the serious impact of tornadoes on the customers and operations of many financial

“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

CSBS has developed and approved this tool to help financial institutions prepare for the coming changes decided by FASB for accounting for losses.

Static and outdated regulatory thresholds impede a dynamic banking system and can create unnatural barriers that limit a community bank’s growth.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

INTRODUCTION I’d like to start by thanking the Federal Reserve, the FDIC, and the OCC for organizing – and particularly to the Federal Reserve Bank of Chicago for hosting – this event and creating a forum for us to share information and discuss opportunities for improving the strength and well-being of the financial services industry. It is through an open

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

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

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

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 Helene on the customers and operations of many financial institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies