Washington, D.C.—The Conference of State Bank Supervisors (CSBS) today released the Money Transmission Modernization Act for state adoption as part of states’ broader effort to modernize the state financial regulatory system. In addition to supervising 79% of U.S. banks, state financial agencies are the primary regulator of the nation’s nonbank financial sector, which includes mortgage lenders and servicers, consumer finance

Washington D.C. – The lingering effect of the Covid-19 pandemic on local economies has created a new concern for community banks: historic levels of deposits and narrow net interest margins, according to the Conference of State Bank Supervisors’ (CSBS) eighth annual national community bank survey. The survey of nearly 500 community bankers nationwide reveals a shift from last year, when

Introduction Shortly after I was sworn in as Chairman of the FDIC in June of 2018, one of the first speeches I gave was at this conference. I had followed this conference for years in my former life and have come to understand and appreciate its value. I was just as delighted and honored to be able to speak before

Governor Michelle W. Bowman At the Community Banking in the 21st Century Research and Policy Conference, St. Louis, Missouri (virtual conference) Good afternoon. I'm pleased to be able to join you again virtually for this year's Community Banking in the 21st Century research and policy conference. Although I think we would all prefer to be together in person, in the

Statement from CSBS President and CEO John W. Ryan on Rohit Chopra Confirmation as CFPB Director: “State financial regulators look forward to continued partnership with the CFPB under the leadership of Director Chopra. Our work with the CFPB is a model for state-federal regulatory partnership and has served to protect consumers and ensure their access to a wide range of

Washington, D.C. – Community bankers are less optimistic about future business conditions and the economic outlook than they were earlier this year, according to the most recent Community Bank Sentiment Index (CBSI). The Conference of State Bank Supervisors (CSBS) released the third quarter 2021 CBSI results today, collecting data from community banks across the nation during the month of September

Purpose Five federal financial institution regulatory agencies, 1 in conjunction with the state bank and state credit union regulators, (collectively, agencies) are jointly issuing this statement to emphasize the expectation that supervised institutions with LIBOR exposure continue to progress toward an orderly transition away from LIBOR. Additionally, this statement includes clarification regarding new LIBOR contracts, considerations when assessing appropriateness of

Washington, D.C. – Statement from CSBS President and CEO John W. Ryan on the Report on Stablecoins by the President’s Working Group on Financial Markets, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency: “We look forward to examining the PWG’s stablecoin report more fully and sharing our supervisory experience in this area with PWG

Statement from CSBS President and CEO John W. Ryan on Graham Steele’s Confirmation as Assistant Secretary for Financial Institutions: “State financial regulators look forward to working with Assistant Secretary Steele on oversight of our nation’s financial institutions. Close coordination between state and federal regulators protect consumers, families and communities while creating the regulatory clarity financial institutions need to innovate within

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 institutions and will provide appropriate regulatory assistance to affected institutions subject to their supervision. The agencies encourage institutions