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CSBS Releases 2012 Annual Report


May 3 - The Conference of State Bank Supervisors has released its annual report. The report details CSBS’s efforts to facilitate a system of financial supervision that allows for the depository and non-depository industries to thrive and contribute to local, state and national economic growth, while protecting consumers of financial products.

“State regulators strive to strike a pragmatic balance in supervision,” said Greg Gonzales, commissioner of the Tennessee Department of Financial Institutions and chairman of CSBS. “This report provides a clear record of the work CSBS has performed in pursuit of that balance and our strategic objectives for the coming years. It is imperative regulators and policymakers continue toward the creation of a regulatory framework that ensures safety and soundness and consumer protection, and that also empowers the industry to succeed and contribute to the economic growth of our states and nation.”

Highlights of the CSBS 2012 Annual Report include:

“State financial regulators have a clear vision of how the industry and supervision should function in the future and the economic success it should facilitate,” said John W. Ryan, president and CEO of CSBS. “That vision is of a dynamic, competitive and accountable financial services industry, which provides access to credit for borrowers, enabling them to achieve success and to contribute to the stability and growth of our communities, our states, and our nation as a whole. However, CSBS is concerned that the changing federal banking legal and regulatory framework is at risk of becoming so prescriptive that it threatens this vision. We are committed to working with Congress and our federal counterparts to support a financial system that meets the diverse needs of the United States.”

The CSBS 2012 Annual Report is available here.