Recently the House unanimously approved legislation that would enhance the ability of state and federal regulators to coordinate the examinations of a bank’s technology vendor. I urge the Senate to do the same.
As the primary supervisors of nondepository financial companies, including fintech, state regulators are very aware that the speed of change due to fast-moving technology means we must advance with it.
The Federal Deposit Insurance Corp. is the federal regulator for most of the nation’s state-chartered banks. But even though it is required by law, there is no one with state bank supervisory experience on the FDIC’s board of directors.
CSBS Chairman and Mississippi regulator Charlotte Corley recounts her department's efforts to close down a rogue payday lender, a process that spanned years and involved much litigation. How does this case reflect on consumer protection more broadly?