Washington, D.C. – Last spring, state regulators issued a policy statement through the Conference of State Bank Supervisors (CSBS), stating their commitment to a 50-state system of licensing and supervision for non-banks, including fintech firms.
To help the media, we have developed a video, which you can access here, to see what has been happening since. In brief, CSBS has launched an effort, called CSBS Vision 2020, to organize initiatives that can help achieve the 50-state goal.
Among the activities now underway, CSBS and state regulators have begun developing a next-generation technology platform for nationwide use; formed and held meetings with a fintech industry advisory panel; and begun exploring efforts to harmonize differences in multi-state licensing and supervision.
For updates on Vision 2020 initiatives, visit us on the web or social media.
Media Contact: Jim Kurtzke, email@example.com, 202-728-5733
The Conference of State Bank Supervisors (CSBS) is the national organization of bank regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands. State regulators supervise roughly three-quarters of all U.S. banks and a variety of non-depository financial services. CSBS, on behalf of state regulators, also operates the Nationwide Multistate Licensing System to license and register non-depository financial service providers in the mortgage, money services businesses, consumer finance and debt industries.