Nearly 100% Believe U.S. Economy is in a Recession Washington, D.C. – Community bankers are starting the year with a negative economic outlook and largely believe the nation is in a recession, according to the most recent quarterly Community Bank Sentiment Index (CBSI), released today by the Conference of State Bank Supervisors (CSBS). The CBSI fell six points to 85
Washington, DC – Twenty-three states have committed to a multistate agreement that standardizes key elements of the licensing process for money transmitters and other money services businesses (MSB). The original agreement included seven states in February 2018. The agreement: One state regulatory department reviews common licensing requirements – business plan; direct and indirect owners, including background checks; financial information and
Community Banks Adapting to the Digital Age Blog Series Guests: CSBS Chief Economist Thomas F. Siems Federal Reserve Bank of St. Louis Supervision Policy, Research and Analysis Manager Meredith A. Covington Temple University Professor of Finance and CSBS Adjunct Research Scholar Jonathan A. Scott In this episode, we explore how community banks are adapting to a changing digital landscape by
State regulators have an important mandate that requires them to protect consumers, ensure the safety and soundness of their institutions and promote economic growth. Today we talk about the priorities of state regulators in 2023, focusing on legislation, state-federal partnerships and Networked Supervision. Guests: Jim Cooper - President and CEO, CSBS Karen Lawson - Executive Vice President of Policy and
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."
