News & Analysis as of

CSBS

Nutter Bank Report, April 2017

CFPB Delays the Effective Date of New Prepaid Accounts Rule - The CFPB adopted a final rule on April 20 that delays the general effective date of its rule governing prepaid accounts by six months. The rule will now take...more

New CSBS Tool for BSA/AML Aims to Enhance Risk Assessment

by Baker Donelson on

As financial institutions face increased scrutiny on assessing Bank Secrecy Act/Anti-Money Laundering (BSA/AML) risk, there is now another tool to help document that risk. The Conference of State Bank Supervisors (CSBS),...more

Update on the OCC Fintech Charter: The Current Lay of the Land

The Office of the Comptroller of the Currency (OCC) is considering allowing financial technology (fintech) companies to be chartered as special-purpose national banks. Although the planning is still at a preliminary stage,...more

CSBS Releases BSA/AML Risk and Controls Self-Assessment Tool

by Ballard Spahr LLP on

The Conference of State Bank Supervisors (CSBS) has continued its efforts to promote improvements in Bank Secrecy Act/Anti-Money Laundering compliance with the release in January 2017 of a new BSA/AML Self-Assessment Tool for...more

Bitcoin: Cybersecurity Regulations on the Horizon?

by JD Supra Perspectives on

As legislators grapple with creating legislation intended to bring virtual currencies, such as bitcoin, within the scope of anti-money laundering regulations, the vulnerability of Bitcoin exchanges to theft and other cyber...more

Florida to Streamline Testing Requirements for Mortgage Loan Originator Licensure

by BakerHostetler on

On August 16, Florida announced via the National Mortgage Licensing System (NMLS) Resource Center that it was adopting the Uniform State Test (UST) for mortgage loan originators. With this announcement, the Florida Office of...more

State Banking Regulators Issue Annual Report

What were state banking regulators focused on last year? A new report from the Conference of State Bank Supervisors (CSBS) reveals that state regulators "increased coordination and collaboration between state regulators and...more

Multi-State Mortgage Committee Issues Expectations for Use of Electronic Tools in State Examinations

by Alston & Bird on

On September 29, 2015, the Multi-State Mortgage Committee (MMC) and Conference of State Bank Supervisors (CSBS) issued an industry bulletin – Supervisory Expectations Regarding the Use of Electronic Examination Tools –...more

The Conference of State Bank Supervisors Adopts Model Regulatory Framework for Virtual-Currency Businesses

by Morgan Lewis on

Addressing regulatory concerns pertaining to consumer protection, market stability, and law enforcement, the Framework expands on the CSBS draft framework released in December 2014. The Conference of State Bank...more

The CSBS Finalizes Model Framework for Virtual Currencies

by Morrison & Foerster LLP on

On September 15, 2015, the Conference of State Bank Supervisors (“CSBS”) issued its final Model Regulatory Framework on virtual currency activities (“Final Framework”). The Final Framework follows the CSBS’s December 2014...more

Financial Services Weekly News - September 2015 #3

by Goodwin on

Regulatory Developments: CFTC Grants Temporary Registration as SEF to LedgerX Bitcoin Options Exchange and Clearing House - On Sept. 10 the CFTC announced that it had issued an Order of Temporary Registration as a...more

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

by Locke Lord LLP on

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

State Virtual Currency Regulatory Developments

by Morrison & Foerster LLP on

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

CSBS Emerging Payments Task Force Issues Virtual Currency Policy Framework

by Davis Wright Tremaine LLP on

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

by Goodwin on

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

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

by Goodwin on

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

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

by Ballard Spahr LLP on

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

CFPB describes plans for coordinating with state regulators

by Ballard Spahr LLP on

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

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