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2016 Press Releases
Idaho Department of Finance Earns Banking Supervision Re-accreditation
California and Missouri Begin Using Uniform Mortgage Test; 50 State Agencies Now Using the Test
North Dakota Department of Financial Institutions Receives Certificate of Mortgage Accreditation
CSBS Names Jim Kurtzke Vice President of Communications
CSBS Announces 2016 Community Bank Case Study Competition Participants
SRR Releases 2015 Annual Report
Colorado Begins Using Uniform Mortgage Test; 51 State Agencies Now Using the Test
Gonzales Appointed to FFIEC State Liaison Committee
Scott Corscadden Named New NMLS Ombudsman
FFIEC Seeks Comments on Proposed Revisions
Financial Regulators Release New Appendix for Retail Payment Systems Booklet
Face Appointed to FFIEC State Liaison Committee
Lawson Elected as State Liaison Committee Chairman
Multi-State Non-Bank Supervision Groups Release Annual Reports
CSBS Releases 2015 Annual Report
12 Student Teams Named Finalists in 2016 Community Bank Case Study Competition
CSBS and MTRA Issue White Paper on State Supervision of MSBs
CSBS Announces New Leadership
Texas Department of Savings and Mortgage Lending Receives Mortgage Reaccreditation
CSBS Announces Winners of the 2016 Community Bank Case Study Competition
CSBS Chairman Challenges State and Federal Regulators to Work Together
Illinois Begins Using Uniform Mortgage Test; 52 State Agencies Now Using the Test
West Virginia Department of Financial Institutions Receives Banking Reaccreditation
FFIEC Issues Statement on Safeguarding the Cybersecurity of Interbank Messaging and Payment Networks
Statement on the Financial CHOICE Act
Statement on Introduction of the Bank Service Company Examination Coordination Act
New Call Report to Streamline Supervision of Money Services Businesses
Fed/CSBS 2016 Community Banking Research Conference to Be Held Sept. 28-29
FFIEC Invites Public Comment on Streamlined "Call Report" for Smaller Institutions
Fed/CSBS Announce Papers Selected for the 2016 Community Banking Research Conference
Financial Regulators Release Revised Information Security Booklet
White Paper Discusses Opportunities for Community Banks to Collaborate
NMLS Launches New Capabilities to Streamline State Licensing Processes
North Carolina Commissioner Ray Grace Appointed
CSBS Releases Second Quarter NMLS
Federal Financial Institutions Examination Council Announces Availability of 2015 Data on Mortgage Lending
Federal Reserve and CSBS Release Findings from 2016 National Survey of Community Banks
Washington Department of Financial Institutions Earns Bank, Mortgage Accreditation
CSBS-Federal Reserve Research Conference Describes the Value and Business Prospects of Community Banks
FFIEC Announces Webinars in Observance of Cybersecurity Awareness Month
Maryland Office of the Commissioner of Financial Regulation Receives Accreditation of Mortgage Supervision Program
CSBS Names Tom Bayer Executive Vice President and Chief Information Officer
FFIEC Issues Frequently Asked Questions Guide on the Cybersecurity Assessment Tool
Third Annual “Your License is Your Business Campaign” Launches Today
CSBS Releases Map of State Requirements for Opening Bank Accounts for Minors
FFIEC Issues Uniform Interagency Consumer Compliance Rating System
State Regulators Oppose OCC Fintech Charter
State Regulatory Group Announces New Cyber Certification Program for Bank Examiners
Statement by the Conference of State Bank Supervisors on Comptroller’s Announcement of New Federal Charters
2017 NMLS Renewal Campaign “Your License is Your Business” Off to Strong Start
FFIEC Streamlines “Call Report” for Small Institutions
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Media Release

Conference of State Bank Supervisors
        1129 20th Street, NW, 9th Floor, Washington, DC, 20036

 CSBS and MTRA Issue White Paper on State Supervision of MSBs  

WASHINGTON, D.C. – The Conference of State Bank Supervisors and the Money Transmitter Regulators Association (MTRA) today released a white paper on the state system of regulation and supervision for money services businesses (MSBs). The white paper outlines the structure and degree of an established state regulatory system for overseeing MSBs that is focused on consumer protection, safety and soundness and Bank Secrecy Act and Anti-Money Laundering (BSA/AML) compliance.

MSBs, and especially money transmitters, play an important role in providing financial services to more than one-quarter of U.S. households around the country. At the same time, state financial regulators are finding that banks may be indiscriminately terminating or denying MSB accounts due to concerns of BSA/AML risks.

“State regulators have long standing regulatory and supervisory programs that mitigate financial, consumer, and BSA/AML risk,” said John W. Ryan, CSBS President and CEO. “By releasing this white paper, we hope to raise the level of understanding to which the states authorize and regulate MSBs and encourage financial institutions to make decisions based on specific risks and mitigation practices.”

“Licensed remittance companies have encountered long-standing challenges with establishing and maintaining banking relationships over the years, an important element of maintaining a transparent financial system,” said MTRA President Doug Buras.  “With the release of this white paper, the MTRA hopes to shed light on how state regulatory authorities license and supervise money transmitters in an effort to help address this important issue.”  

The white paper, titled “The State of State Money Services Businesses Regulation & Supervision,” highlights state financial regulators’ history of supervising licensed MSBs, the credentialing that occurs through the licensing process, and the coordinated supervision of MSBs among state financial regulators and between state and federal agencies. Also discussed in the white paper is the use of the Nationwide Multistate Licensing System (NMLS) as an effective and adaptive tool for streamlining licensure of MSBs, especially those operating in multiple states.

The white paper is available on the CSBS website here.

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