CSBS

News & Analysis as of

CSBS and Multi-State Mortgage Committee Report on 2015 Supervisory Efforts

The Conference of State Bank Supervisors (CSBS) and the Multi-State Mortgage Committee (MMC) issued a report to state regulators regarding its 2015 review of the supervisory structure around examination and risk assessment of...more

CSBS Publishes Annual Report

Recently, the Conference of State Bank Supervisors (CSBS) published its 2015 Annual Report to provide an overview of its activities and initiatives in 2015. The report highlights that, throughout 2015, state regulators (i)...more

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

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

Illinois to Host Cyber Risk and Security Conferences; CSBS to Co-host

On October 14, the Illinois Division of Banking announced that it would host two Cyber Risk and Security Conferences on November 9 and November 16. With the growing number of threats to financial data systems, cyber and data...more

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

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

CSBS’ Multi-State Mortgage Committee: Mortgage Companies Must Comply with Technology-Based Examination Process

On September 29, the Conference of State Bank Supervisors (CSBS) and the Multi-state Mortgage Committee (MMC) released a bulletin titled, “Supervisory Expectations Regarding the Use of Electronic Examination Tools.”...more

The CSBS Finalizes Model Framework for Virtual Currencies

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

State Banking Regulators Issue Model Regulatory Framework for Virtual Currency Activities

On September 15, the Conference of State Bank Supervisors (CSBS) issued its Model Regulatory Framework for State Regulation of Certain Virtual Currency Activities (Model Framework). The CSBS Emerging Payments Task Force...more

Financial Services Weekly News - September 2015 #3

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

CSBS Announcement: Arizona Department of Financial Institutions Becomes Latest State Agency to Adopt National SAFE MLO Test

On July 29, the Conference of State Bank Supervisors (CSBS) announced that the Arizona Department of Financial Institutions began using the National SAFE Mortgage Loan Originator (MLO) Test, making it the 47th state banking...more

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

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