Community bankers are feeling upbeat about the economic future. The Conference of State Bank Supervisors’ (CSBS) fourth quarter 2024 CSBS Community Bank Sentiment Index (CBSI) surged 17 points to 127 compared to last quarter’s survey, reaching its highest mark since the survey began in 2019. The overall index was driven higher mostly on expectations of a more-balanced regulatory burden and
Washington, D.C.— Fifty-three state financial regulatory agencies have taken coordinated action against mortgage company Bayview Asset Management LLC and three of its affiliates, Lakeview Loan Servicing, Community Loan Servicing, and Pingora Holdings (collectively the Bayview Companies), for deficient cybersecurity practices and for not fully cooperating with state regulators following a data breach that impacted 5.8 million customers. The $20 million
The California Department of Financial Protection and Innovation, the Federal Deposit Insurance Corporation, the Federal Reserve Board, the National Credit Union Administration, and the Office of the Comptroller of the Currency, collectively the agencies, recognize the serious impact of the California wildfires and straight-line winds on the customers and operations of many financial institutions and will provide appropriate regulatory assistance
Washington, D.C.— In a coordinated enforcement action by 48 state financial regulators, Block, Inc. will pay an $80 million fine and undertake corrective action for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws that safeguard the financial system from illicit use. More than 50 million consumers use Cash App, Block’s mobile payment service, to spend, send
Community Bank Vitality, State-Federal Partnerships, and State Nonbank Authority are 2025 Priorities Today, on behalf of state financial regulators, the Conference of State Bank Supervisors (CSBS) asked new Congressional leaders to advance policies that support community banking, enable effective state-federal partnerships, and safeguard the dual-banking system. A similar letter will be sent to Executive branch leadership in the next Administration
Download the Full Comment Letter [PDF] James P. Sheesley, Assistant Executive Secretary Attention: Comments – RIN 3064-AG07 Federal Deposit Insurance Corporation 550 17th Street NW Washington, DC 20429 Re: Recordkeeping for Custodial Accounts Dear Sir, The Conference of State Bank Supervisors 1 (“CSBS”) supports the Federal Deposit Insurance Corporation’s (“FDIC”) notice of proposed rulemaking entitled “Recordkeeping for Custodial Accounts” (“proposal”)
By CSBS Chief Economist Thomas F. Siems, Ph.D. Last week, CSBS announced the results of the CSBS fourth quarter 2024 Community Bank Sentiment Index (CBSI). Driven mainly by expectations for a more-balanced regulatory environment and better future business conditions, the CBSI surged to its most optimistic reading since the survey’s debut in 2019. What caused this sudden positive outlook? Chart
The Conference of State Bank Supervisors (CSBS) this week filed an amicus brief in the 9th Circuit Court of Appeals to highlight the importance of upholding state consumer protection laws when erroneously challenged by national banks. It is the third such amicus brief since the Supreme Court’s unanimous decision in Cantero v. Bank of America that courts must take a
2025 NMLS Annual Conference and Training Opening Remarks Brandon Milhorn Feb. 12, 2025 Good morning, everyone. It is great to be back at the NMLS Annual Conference — my second as President and CEO of the Conference of State Bank Supervisors. This is our largest audience ever at the conference — 842 total — with 313 from state agencies and
Statement from CSBS President and CEO Brandon Milhorn: “Many of the proposals for federal regulatory consolidation being discussed in the media have been debated — and rejected — in the past. We encourage the Administration and Congress to avoid drastic restructuring of the federal banking agencies and instead focus on real and meaningful supervisory reforms that would energize our nation’s