John W. Ryan
President and CEO, Conference of State Bank Supervisors
“State regulators strongly support the Bank Service Company Examination Coordination Act, and urge its swift passage by the U.S. House of Representatives. This common sense legislation will enhance regulators’ ability to oversee banks and their vendors in an effective, efficient and coordinated manner.
“More and more, we are seeing banks outsource core business functions to technology service providers (TSPs). Oversight of such companies is a key part of bank regulation. This legislation, H.R. 5807, will enable state and federal regulators to better coordinate such supervision, help streamline the supervisory process for TSPs, and improve the effectiveness of state and federal supervision.”
“The strength of this legislation is reflected in its bipartisan support. I congratulate the bill sponsors -- Reps. Sean Duffy (R-WI), Roger Williams (R-TX) and Gregory Meeks (D-NY) – for taking action to make bank regulation more efficient and effective.”