The Model Money Transmission Modernization Act, also known as the Money Transmitter Model Law, is a single set of nationwide standards and requirements created by industry and state experts. We speak with two CSBS experts on money transmission to learn how this model law came to be, what it accomplishes and how it's being implemented nationwide. Chapters 0:46 - What
Today's Guest Rich Madison, Vice President, Credentialing and Accreditation Programs In today's episode, we discuss: What a mortgage broker's license is What it means for your mortgage broker to be licensed Where you can search for a licensed or registered mortgage broker Who to contact if you have concerns
The Ransomware Self-Assessment Tool (R-SAT) is a tool to help financial institutions periodically assess their efforts to mitigate risks associated with ransomware and identify gaps for increasing security. State regulators, in collaboration with the Bankers' Electronic Crimes Taskforce and the U.S. Secret Service, released an updated R-SAT. In this episode, we speak with CSBS Senior Director of Cybersecurity Policy and
Misconceptions Misconception: Regulation of nonbank mortgage companies is lax or non-existent. As the primary regulator of nonbanks, states have broad licensing, examination, investigation, and enforcement authorities. Prudential standards, including financial capacity (i.e., net worth/capital and liquidity), governance, and risk management requirements, are also a matter of state law enforced by state regulators. 1 The Nationwide Multistate Licensing System and Registry
Guest: Margaret Liu, CSBS Senior Legislative Vice President & Deputy General Counsel Host: Matt Longacre Today, we talk with CSBS Senior Legislative Vice President and Deputy General Counsel Margaret Liu and try to define exactly what everyone means when they call a company a "fintech."
