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2017 Press Releases
Florida and Arkansas Begin Using Uniform Mortgage Test; 54 State Agencies Now Using the Test
State Regulators Oppose OCC Special Charter For Non-Banks
State Financial Regulators Release BSA/AML Compliance Tool for Industry
CSBS Board Appoints Wyoming’s Albert Forkner as Chairman-Elect
State Regulators Promote “Fintech Friendly” Features of National Registry
College Students Participate in Nationwide Community Bank Competition
Statement on the Illinois Fintech Regulatory Roundtables
CSBS Urges Congress to Weigh in Against OCC Non-Bank Charter
State Regulators Highlight EGRPRA Priorities for Financial Regulatory Relief
Gonzales, Hughes and Jones Re-Appointed to FFIEC State Liaison Committee
State Regulators Announce Changes to Money Services Businesses Reporting
State Regulators Issue Cease-and-Desist Orders to Subsidiaries of Ocwen Financial Corp.
CSBS Files Complaint Against Comptroller of the Currency
Gonzales Elected as State Liaison Committee Chairman
Stork Appointed to FFIEC State Liaison Committee
CSBS Announces Vision 2020 for Fintech and Non-Bank Regulation
CSBS Statement on New York Department of Financial Services Lawsuit Against OCC
CSBS Announces Five Finalist Teams in the 2017 Bank Case Study Competition
CSBS Announces New Leadership
The University of Akron Wins First Place in CSBS Community Bank Competition
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 5/12/2017 

Media Release

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

 CSBS Statement on New York Department of Financial Services Lawsuit Against OCC  

Washington, D.C. -- Conference of State Bank Supervisors President and CEO John W. Ryan issued the following statement today in response to the New York Department of Financial Services lawsuit against the Office of the Comptroller of the Currency (OCC), which challenges the OCC’s authority to create a special-purpose national bank charter for fintech and other nonbank financial services companies.


“CSBS strongly supports the lawsuit filed today by the New York Department of Financial Services against the Office of the Comptroller of the Currency (OCC). The OCC does not have the authority to issue federal charters to non-banks, and its unlawful attempt to do so will harm markets, innovation and consumers.


“In order to protect consumers and taxpayers, and to ensure fair and open market competition, CSBS filed our own challenge against the OCC last month, seeking to prevent the OCC from moving forward with this unauthorized expansion of its authority.


“Furthermore, the OCC proposal threatens state sovereignty and strong state consumer protection laws. State regulators already supervise a vibrant financial services marketplace that includes non-banks and banks. And where there are opportunities to further modernize state regulation of financial services providers, including fintechs, state regulators are committed to doing so through our recently launched Vision 2020 initiative to make the state system of financial regulation more efficient while protecting consumers and the financial system.”

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