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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:
- The CSBS strategic plan, which was first approved by the CSBS board of directors in December 2011. In the fall of 2012, the plan was amended and once again approved by the Board in December 2012. The long-term plan will guide CSBS efforts and will be implemented over the coming years.
- Ongoing work on the viability of the community bank model. The CSBS Community Banking Steering Group has spearheaded a multi-faceted initiative to investigate impediments that community banks face stemming from public policies and market pressures.
- The successful 2012 CSBS Washington Fly-In, bringing together more than 60 regulators from more than 30 states for meetings with key members of Congress and federal regulators.
- Testimony by state regulators before Congress on behalf of CSBS on pressing financial issues, including the Basel III and Standardized Approach proposals.
- The development of the Examination Tools Suite, a major technology initiative to replace and enhance the exam tools currently used by state and federal examiners.
- Staff assisted coordination on behalf of state regulators impacted by Hurricane Sandy with the federal agencies and other state regulators.
- The development and launch of the website of the Multi-State Mortgage Committee, a group of state regulators charged with implementing and directing processes for the coordinated supervision of mortgage entities operating in more than one state. The MMC website will enhance the efficiency of the MMC.
- The CSBS Money Services Businesses Task Force, facilitated by CSBS staff, finalized a cooperative agreement and protocol for performing multi-state examinations of MSBs.
- Twenty-four on-site professional development programs and 16 mortgage-related webinars. More than 1,350 state and federal regulators, members of the industry, and other parties participated in CSBS training and professional development programs in 2012.
- Enhanced use of the Nationwide Mortgage Licensing System and Registry for the licensing and supervision of non-depository financial services industries beyond the mortgage industry.
“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.