State Regulators Have "Full Confidence" in New Fed Chairman Powell
Washington, D.C. – A statement from John Ryan, president and chief executive officer of the Conference of State Bank Supervisors (CSBS):
“State regulators congratulate Chairman Jerome Powell for being sworn in today to lead the Federal Reserve Board. We have full confidence in Chairman Powell. His deep knowledge and understanding of the financial system is essential to supporting the U.S. economy and protecting it against excessive risks. We look forward to working with him to enable a wide array of financial institutions to innovate on behalf of the consumer and business alike.”
“Chairman Powell has been a regular speaker at the annual CSBS-Federal Reserve community bank research conference. Most recently, in 2016, he delivered remarks that explored the historical performance of community banking. His understanding and appreciation for community banks will play an important role in shaping policy for years to come.”
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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.