The FDIC should rescind its brokered deposits proposal, CSBS said in a comment letter today. The proposal would needlessly disrupt an important source of bank funding and cause other complications with no clear justification. “The brokered deposits proposal fails to meet the rigorous, fact-based, and data-driven rulemaking standard stakeholders deserve,” said CSBS President and CEO Brandon Milhorn. “This proposal takes

The CSBS Networked Supervision Champions program recognizes state agency staff who are going above and beyond to empower the multistate network for better financial supervision and industry compliance. Congratulations Mark Hastie! State financial regulators are focused on implementing consistent standards and practices across the state system to streamline the regulation of nonbank financial companies operating in multiple states. Minnesota is

Five federal financial regulatory agencies, the Financial Crimes Enforcement Network (FinCEN), and state financial regulators issued a statement today to provide supervised institutions with examples of risk management and other practices that may be effective in combatting elder financial exploitation. Older adults who experience financial exploitation can lose their life savings and financial security and face other harm. A FinCEN

Washington, D.C. – The Conference of State Bank Supervisors (CSBS) today announced the appointment of Bo Berlas as its new Chief Information Security Officer (CISO). With over 20 years of leadership experience in cybersecurity, Berlas will oversee CSBS’s information security strategy, ensuring the protection of its digital assets, fostering a strong security culture within CSBS, and building a technology platform

I’d like to thank Secretary Yellen for her leadership on this Council, and to my fellow regulators for another productive and collaborative year working to protect the American people, the institutions we regulate, and the global financial system from new and emerging risks. I’d also like to thank the Treasury staff and detailees for putting together this year’s Annual Report

State regulators support the Federal Reserve Board of Governors’ efforts to improve the discount window’s accessibility and reduce its stigma so that it can serve as an effective and efficient source of liquidity, CSBS said in a comment letter today in response to a request for information. The discount window is a critical source of liquidity for the banking system

NYDFS Superintendent Adrienne Harris Concludes Her Service Washington, D.C. — State bank supervisors have appointed North Dakota Department of Financial Institutions Commissioner Lise Kruse to serve as the state banking representative on the Financial Stability Oversight Council (FSOC), effective Jan. 1, 2025. She will succeed New York State Department of Financial Services Superintendent Adrienne Harris, who will conclude her two-year

This roadmap highlights key NMLS enhancements that will occur over the next six years in six different phases. Our Strategy We are modernizing NMLS using a long-term strategy focused on enhancing the system and improving the user experience. Our development priorities are to: Ensure system enhancements benefit as many system users as possible by: Focusing on areas that impact the