Washington, D.C. – Community bankers have a pessimistic view of the economy driven by diminished expectations of future business conditions, according to the most recent Community Bank Sentiment Index (CBSI). The Conference of State Bank Supervisors (CSBS) released the first quarter 2022 CBSI results today, collecting data from community banks across the nation during the month of March. The results
By CSBS Chief Economist Thomas F. Siems, Ph.D. The CSBS first quarter 2022 Community Bank Sentiment Index (CBSI) indicates that community bankers have returned to a pessimistic outlook driven primarily by diminished expectations regarding future business conditions. Answering an open-ended question, community bankers expressed concerns over rising inflation (especially higher oil and gas prices), mounting geopolitical tensions and government regulations
Student teams used PPP data to show community bank role in pandemic Washington, DC - A team of students from William & Mary has won the CSBS 2022 Data Analytics Competition, CSBS announced today. This year’s competition challenged students to develop a data analytics model that demonstrates the role community banks played during the pandemic using data from the Paycheck Protection Program (PPP). “We have all been extremely impressed
Washington, D.C. – New technology is not just rapidly transforming financial services, it also is creating the state financial system of the future, according to Conference of State Bank Supervisors’ Chair Melanie Hall, who testified today before the House Financial Services Committee Artificial Intelligence Task Force. “Technology has been an important part of the state system’s evolution and will continue to
TESTIMONY OF MELANIE HALL COMMISSIONER MONTANA DIVISION OF BANKING AND FINANCIAL INSTITUTIONS ON BEHALF OF THE CONFERENCE OF STATE BANK SUPERVISORS TO THE HOUSE FINANCIAL SERVICES COMMITTEE ARTIFICIAL INTELLIGENCE TASK FORCE OF THE U.S. HOUSE COMMITTEE ON FINANCIAL SERVICES HEARING ON “KEEPING UP WITH THE CODES – USING AI FOR EFFECTIVE REGTECH” MAY 13, 2022 Introduction Thank you, Chairman Foster
Statement from John Ryan, CSBS president and CEO, on Money Services Businesses Trade Associations Best Practices for AML/CFT Compliance Programs: “As banking regulators, CSBS’s members are committed to ensuring banks know and understand the MSBs with which they transact, including the supervisory structures designed to authorize and regulate the industry and make decisions based on the individual risk profile of