The Federal Reserve System and the Conference of State Bank Supervisors (CSBS) today released findings from a national survey of community bankers presented at the fifth annual Community Banking in the 21st Century Research and Policy Conference held at the Federal Reserve Bank of St. Louis.
CSBS Chairman Albert L. Forkner, who is also commissioner of the Wyoming Division of Banking, opened the 2017 CSBS-Federal Reserve Community Banking Research and Policy Conference, held at the Federal Reserve Bank of St. Louis, October 4-5, 2017. Here are his prepared remarks. Thank you, Julie [Stackhouse, executive vice president of the Federal Reserve BankContinue reading CSBS Chairman: Research Essential to Modernizing Community Banking and Policy
In a report issued Sept. 13, the Government Accountability Office focused its attention on financial technology. The GAO defined four key sectors: marketplace lenders, mobile payments, digital wealth management platforms, and distributed ledger technology. The GAO then described the varied approaches to regulating these sectors, both at the federal and state levels.
From a CSBS press release, September 7, 2017 Washington, D.C. – The Conference of State Bank Supervisors (CSBS) has launched a major redesign of the Nationwide Multistate Licensing System (NMLS), the core technology platform used by state bank regulators. The redesign will enable regulators to transform the licensing and supervision of non-bank financial institutions, includingContinue reading Work Begins on Next Generation Technology Platform
From the Illinois Department of Financial and Professional Regulation:
From Politico Pro [Subscription Required]: Acting Comptroller of the Currency Keith Noreika suggested that he would be open to re-examining the division between commercial and banking activities, sparking concern among regulators and smaller lenders. Though Noreika indicated he would move ahead with the limited charter designed for fintech firms to compete nationally with banks, it’sContinue reading Article: OCC chief sparks concern by signaling openness to redefining what a bank is
“New York continues to stand by its position that the OCC lacks the authority to charter nonbank financial services firms and only state regulators like DFS have the extensive experience, knowledge, and skills to supervise these cash-intensive companies. As we clearly assert in our lawsuit, the OCC is simply not equipped nor legally authorized toContinue reading NYDFS: STATEMENT BY FINANCIAL SERVICES SUPERINTENDENT MARIA T. VULLO IN RESPONSE TO COMMENTS MADE TODAY BY ACTING OCC COMPTROLLER KEITH NOREIKA REGARDING A NATIONAL BANK CHARTERS FOR NON-BANK FINANCIAL SERVICES COMPANIES
Seeks Industry Participation in Vision 2020 Initiative