CSBS

News & Analysis as of

CSBS Announces Multi-State Regulatory Groups’ Annual Reports to State Regulators

On April 27, the Conference of State Bank Supervisors (CSBS) announced that three working groups of state regulators – the State Coordinating Committee (SCC), the Multi-State Mortgage Committee (MMC), and the Multi-State MSB...more

CSBS Announces $5.2 Million Multi-State Enforcement Action Against Maryland-Based Mortgage Lender To Resolve Allegations Of...

On April 13, the Conference of State Bank Supervisors (“CSBS”) announced a settlement agreement and consent order following a coordinated enforcement action launched by 43 states against a non-bank mortgage lender after...more

Locke Lord QuickStudy: Prudential Regulations Proposed for Non-Bank Mortgage Servicers

On March 25, 2015, the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR) proposed a slew of new prudential regulations at the state level specific to non-bank...more

CSBS Proposes Regulatory Framework for Non-Bank Mortgage Servicers

On March 25, the Conference of State Bank Supervisors (“CSBS”) and the American Association of Residential Mortgage Regulators (“AARMR”) issued a proposal seeking public comment on its Proposed Regulatory Prudential Standards...more

State Virtual Currency Regulatory Developments

On February 4, 2015, the New York Department of Financial Services (“NYDFS”) issued for public comment a revised proposed rule to implement a “BitLicense” regulatory regime (the “2015 Proposal”). As discussed below, the 2015...more

Special Alert: CSBS Issues Policy, Draft Model Regulatory Framework, and Request for Comment Regarding State Regulation of Virtual...

On December 16, 2014, the Conference of State Bank Supervisors (“CSBS”) issued a Policy on State Regulation of Virtual Currency (the “Policy”), Draft Model Regulatory Framework, and a request for public comment regarding the...more

State Bank Regulators Request Feedback On Model Framework for Virtual Currency Activities

On December 16, the Conference of State Bank Supervisors (CSBS) announced its draft regulatory framework and requested public comment on specific questions intended to aid state regulators on the regulation of virtual...more

CSBS Emerging Payments Task Force Issues Virtual Currency Policy Framework

The recently formed Emerging Payments Task Force of the Conference of State Bank Supervisors (CSBS) issued a proposed policy on state virtual currency regulation on Dec. 16, 2014 (the “Policy”). The Policy identifies core...more

Financial Services Weekly News Roundup - October 2014

Editor’s Note: Spotlight on the Federal Reserve and CSBS 2014 Community Banking Report. On September 24 the Federal Reserve and the Conference of State Bank Supervisors (CSBS) announced the release of their report,...more

CSBS Publishes Annual Report

On May 1, the Conference of State Bank Supervisors (CSBS) published its 2013 annual report, which aggregates and reviews the organization’s activities in the prior year, identifies future goals for the organization, and...more

The Conference of State Bank Supervisors and the North American Securities Administrators Association Release Guidance Regarding...

The Conference of State Bank Supervisors (the “CSBS”), through its Emerging Payments Task Force (the “Task Force”), and the North American Securities Administrators Association (the “NASAA”) released Model State Consumer and...more

State Regulators Form Emerging Payments Task Force

On February 20, the CSBS announced the formation of an Emerging Payments Task Force to study changes in payment systems—including virtual currencies and other innovations—to determine the potential impact on consumer...more

CSBS Announces Four More State Agencies Transitioning To Uniform Mortgage Test

On January 7, the CSBS announced that, as of January 1, four additional state or U.S. territorial agencies began using the National SAFE MLO test. With the addition of these four agencies—the Nevada Department of Business &...more

Ten More States Adopt Uniform MLO Test

On July 1, the CSBS announced that ten additional state agencies will use the new National SAFE MLO test....more

CFPB, State Regulators Announce Supervision Framework

On May 21, the CFPB and the CSBS released an agreement to coordinate supervision of entities subject to concurrent jurisdiction of the CFPB and one or more state regulators. ...more

CFPB and Conference of State Bank Supervisors sign framework for coordinating supervision and enforcement

The CFPB announced earlier this week that it has established a “framework” with the Conference of State Bank Supervisors (CSBS) for coordination among the CFPB and state regulators on supervision and enforcement matters....more

CSBS Releases Annual Report

On May 2, the CSBS released its 2012 annual report, which aggregates and reviews the organization’s activities in the prior year, identifies future goals for the organization, and outlines specific priorities for 2013. ...more

CSBS Seeks Comment On NMLS Licensing Forms, Mortgage Call Report

Earlier this month, the CSBS sought comment on potential revisions to (i) the uniform NMLS company, branch, and individual licensing forms and (ii) the quarterly NMLS Mortgage Call Report. The forms create a national standard...more

State Banking Regulators Support Federal Online Payday Lending Bill

On April 10, the CSBS sent a letter to Senator Jeff Merkley (D-OR) and Representative Suzanne Bonamici (D-OR) – the chief sponsors in their respective chambers of Congress of legislation related to online payday lending – to...more

Infobytes - A Weekly In-depth review of news & developments in the financial services industry - February 22, 2013

In This Issue: - FEDERAL ISSUES - STATE ISSUES - COURTS - MISCELLANY - FIRM NEWS - FIRM PUBLICATIONS - MORTGAGES - BANKING - CONSUMER FINANCE - PAYMENTS - SECURITIES - Excerpt from Mortgages:...more

CSBS Announces Implementation Date For National Mortgage Loan Originator Test

On January 16, the CSBS announced that a new national mortgage loan originator (MLO) test with a uniform state component will be available on April 1, 2013. The 2009 SAFE Act requires that MLOs pass a test in order to obtain...more

CFPB describes plans for coordinating with state regulators

Last week, the CFPB issued a Statement of Intent that describes its plans for sharing information about nonbanks with state banking and financial service regulators (“State Regulators”) and coordinating supervisory and...more

Federal Banking Regulators Issue Statement on Conversions of Troubled Banks

On November 26, the Federal Reserve Board, the FDIC, and the OCC, together with the CSBS, issued guidance on implementation of section 612 of the Dodd-Frank Act, which imposes restrictions on conversions of national banks and...more

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