“For more than 100 years, the states have effectively overseen a dynamic money transmission marketplace that promotes strong consumer protections, fosters innovation, and maintains access to popular and convenient financial services. 1 The states license money transmitters, supervise their financial condition, require safeguarding of customer funds, respond directly to consumer complaints, and, when appropriate, take enforcement actions against firms that
Washington, D.C. – The Conference of State Bank Supervisors (CSBS) Board of Directors today released model state regulatory prudential standards for nonbank mortgage servicers. “The standards provide states with uniform financial condition and corporate governance requirements for nonbank mortgage servicer regulation while preserving local accountability to consumers,” said CSBS President and CEO John W. Ryan. By adopting the standards, states
The Conference of State Bank Supervisors added state usury rates to the 50-state Consumer Finance Laws Survey, a tool that gives users a clear look at similarities and differences across state compliance requirements, including applicable allowable interest rates.
By granting a safe harbor for financial institutions, Congress can bring regulatory clarity to the financial services industry, address public safety concerns, and ensure access to financial services for state-compliant marijuana and marijuana-related businesses.
Washington, D.C. – Today, Conference of State Bank Supervisors (CSBS) Board Chair Charlie Clark, Director of the Washington State Department of Financial Institutions, and Chair-elect Tony Salazar, Commissioner of Maryland’s Office of Financial Regulation, met with leadership from several national consumer advocacy organizations to discuss 2025 CSBS priorities, consumer protection, and financial access issues. CSBS Board members from numerous other
State Regulators have cooperative agreements with one another, with federal agencies, and with other state representative agencies. You can find all of these agreements here.
By CSBS President and CEO Jim Cooper Fifteen years ago, Congress transformed the mortgage industry by mandating the use of a technology platform created by state financial regulators. Today, that platform allows millions of Americans to make financial decisions and transactions with confidence. Whether they’re obtaining a mortgage to make what is likely their largest lifetime purchase or sending money
Download the Comment Letter Financial Crimes Enforcement Network Policy Division P.O. Box 39 Vienna, VA 22183 FINCEN‐2021‐0005 RIN 1506‐AB49/AB59 Re: Notice of Proposed Rulemaking ‐ Beneficial Ownership Information Access and Safeguards, and Use of FinCEN Identifiers for Entities Dear Sir or Madam, The Conference of State Bank Supervisors (“CSBS”) 1 appreciates the opportunity to comment on the Notice of Proposed
Download the Full Comment Letter [PDF] The Honorable Travis Hill Acting Chairman Federal Deposit Insurance Corporation 550 17 th Street NW Washington, DC 20429 The Honorable Michelle W. Bowman Vice Chair for Supervision Board of Governors of the Federal Reserve System 20 th Street and Constitution Avenue NW Washington, DC 20551 The Honorable Jonathan Gould Comptroller of the Currency Office
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