CSBS Annual Report
2016CSBS Annual Report
TABLE OF CONTENTSFOREWORD FROM THE CHAIRMAN . 2LETTER FROM THE PRESIDENT AND CEO . 3ABOUT CSBS . 4CSBS STRATEGIC PLAN 2015-2018 . 5CSBS BOARD OF DIRECTORS . 62016 HIGHLIGHTS . 8ADVANCING STATE REGULATORS’ PUBLIC POLICY GOALS.10WORKING TO ENHANCE BANK SUPERVISION . 13PROMOTING BALANCED REGULATORY & SUPERVISORY POLICIES.20LEADING THE WAY ON NON-DEPOSITORY SUPERVISION .26THE NMLS AND ITS ROLE IN ADVANCING THE STATE SYSTEM OF NON-BANK FINANCIAL SERVICES .29AN EMPHASIS ON RESEARCH & ANALYSIS. 30EDUCATION & TRAINING ENHANCES STATE SUPERVISION .32APPENDIX A: CSBS & AFFILIATES FINANCIAL PERSPECTIVE .36APPENDIX B: BOARDS . 37APPENDIX C: CSBS STAFF MEMBERS. 40CONFERENCE OF STATE BANK SUPERVISORS1
FOREWORD FROM THE CHAIRMANOn behalf of the Conference ofState Bank Supervisors (CSBS)Board of Directors, I present to youthe 2016 CSBS Annual Report.For first time readers, CSBS is thenationwide organization of bankingregulators from all 50 states, theDistrict of Columbia, and the U.S.territories of American Samoa,Guam, Northern Mariana Islands,Puerto Rico and U.S. Virgin Islands. State regulators oversee4,500 state-chartered banks, along with a variety of nonbank financial services providers. For more than a century,CSBS has supported state regulators in advancing the systemof state financial supervision to ensure safety, soundnessand consumer protection, promote economic growth, andfoster innovative, responsive supervision. Our Board ofDirectors is comprised of senior regulators from the variousstates. The CSBS office is in Washington, D. C. where we havean extremely professional management team and a highlycapable staff.This report summaries our accomplishments in 2016 as weset the stage for moving forward.State regulators collectively supervise 78 percent of ournation’s banks. Because of this coverage, our voice isimportant when Congress considers bank legislation.CSBS serves as an important conduit as it represents stateregulator views with federal regulators and policymakersas we seek common sense, right-sized bank regulation.The various Board committees evaluate important issuesand recommend direction and policy for Board action. Anexample is the Legislative Committee, which has been dealingwith issues such as prudent regulatory relief for communitybanks. Our views are presented at the annual GovernmentRelations Fly-in, where state regulators meet with theircongressional delegation in Washington, D.C. CSBS staffmeet routinely with Members of Congress and their staffs onimportant issues. States are also provided the opportunity totestify at Congressional hearings.CSBS also helps state regulators do our job better. The CSBSeducation programs serve to improve the expertise withinour banking departments – expertise critical to regulatingnon-depository institutions as well as banks. Indeed, morethan 1,100 examiners nationwide have participated in CSBStraining and earned their certifications.2More broadly, the National Multistate Licensing System–which CSBS operates and continues to enhance – is enablinga more streamlined and efficient process for the states aswell as our licensees. We have work underway to do evenmore, with the goal to transform the licensing processand harmonize multi-state supervision. To underscore ourintentions, in early 2017, state regulators issued a policythrough CSBS stating that we are committed to adoptingan integrated, 50-state licensing and supervisory system -branded as Vision 2020 so external stakeholders can betterunderstand our intentions.Of course, we have to manage the downside risks oftechnology to the banking system. Because cyber securitythreats remain one of the top concerns for state regulators,we continued our efforts, along with our federal counterparts,to provide tools for our examiners and industry in addressingthese issues.Lastly, research is a valuable tool to regulators, industryand policymakers alike. For the fourth consecutive year, wepartnered with the Federal Reserve to host a conferenceon community banking issues and research to assist us inanalyzing community bank business lines, compliance costs,and how they are currently operating and evolving. Throughthis conference, the importance of community banks toour economy has become more apparent. Research fromthis conference and other CSBS sources has been vital ineducating federal policymakers considering communitybanking legislation.A review of this Report will indicate that we strive toadvance the regulatory process as the financial industriesthat we regulate change. Whether it is making sure thatstate views are reflected in federal policy making, providingvital research and data to shape the future of communitybanks, or developing technology to modernize multi-stateregulation, CSBS is moving forward.I am proud to have served as the Chairman of the Boardduring the 2016-17 period. Because of all our efforts, stateregulators are in a better position today to ensure the safetyand soundness of the entities we supervise, encourageeconomic growth, and protect our consumers.CHARLES G. COOPERCommissioner, Texas Department of BankingChairman, CSBS Board of Directors2016 ANNUAL REPORT
LETTER FROM THE PRESIDENT AND CEOThe state system of banking andfinancial regulation has long been astrength of the U.S. economy. It hasencouraged business innovationsand start-ups, withstood financialcrises that felled global institutions,and ensured local accountability toconsumers.This is the heritage state financialregulators have inherited. Butmarkets are dynamic and ever-changing. And so, too, mustbe state regulators.At CSBS, our mission is to help state financial regulatorscontinuously enhance the system of state regulation. Ourcommissioners believe it is essential that citizens haveconfidence in the state financial system – one that canprovide ready access to credit and banking services, protectconsumers against bad actors, and encourage the economiesof local communities.I am proud to report that state system is getting stronger.We are seeing state financial regulators making theirdepartments role models for financial regulation. Due inpart to CSBS programs or initiatives, these departments areenhancing their professional expertise, handling caseloadsmore efficiently, standardizing how more industries reportinformation, and collaborating more with regulators in otherstates.Community banks, the lifeblood of the state system, areoperating in more favorable conditions. More communitybanks are seeing opportunities to compete in a dynamicmarketplace, according to CSBS-Federal Reserve research.Additional CSBS research provides insights for communitybanks that want to strengthen their market position througha shared-services business model.In Washington, community banks are winning moreappreciation. Through state-federal interactions that CSBSfacilitates, more federal officials are recognizing what stateregulators have long known: in many areas, communitybanks are the only local source of banking services; and morebroadly, a vibrant community banking sector enables thebanking system from being more dependent on institutionsthat are too big to fail. With these views now more widelyshared, the hard work begins to reform laws and regulationsso that community banks can safely do more, not less.CONFERENCE OF STATE BANK SUPERVISORSIn non-bank regulation, state regulators are upping theirgame. States are accelerating their adoption of technologies,such as the Nationwide Multistate Licensing System (NMLS),operated by CSBS, which state regulators are transforminginto a common platform for non-bank regulation. Andstate regulators are demonstrating unprecedented levelsof collaboration, best exemplified by their collective publiccommitment to move towards an integrated, 50-state systemof licensing and supervision for non-bank and financialtechnology regulation.CSBS has given this initiative a name, Vision 2020, andthe states have hit the ground running: launching thedevelopment of the next generation NMLS; holding OpenHours discussions with fintech industry leaders; exploringregional compacts; and preparing their departments tomeet new accreditation standards. Our commissioners’ goalis for their states to excel in all forms of financial regulation,banking and non-banking alike.For these and other reasons, I am optimistic about thefuture. Actions being taken by state financial regulatorsshould only enhance public confidence in the system ofstate regulation. Emerging is an even more effective system,with enhanced capabilities, more collaboration and dynamicleadership. Moreover, the federal policymaking apparatus isslowly grinding its way towards common-sense regulation,where regulatory regimes can be tailored to the size,complexity and risk of the institution.We at CSBS take great pride in our ability to helpcommissioners modernize state financial regulation andstrengthen the dual banking system. And we look forwardto working with all stakeholders on the many initiativesnecessary to achieve these goals.JOHN W. RYANPresident and Chief Executive Officer3
ABOUT CSBSThe Conference of State Bank Supervisors (CSBS) isthe nationwide organization of banking and financialregulators from all 50 states, American Samoa, Districtof Columbia, Guam, Northern Mariana Islands, PuertoRico, and U.S. Virgin Islands. Established in 1902 as theNational Association of Supervisors of State Banks, CSBS isthe only national organization dedicated to protecting andadvancing the nation’s dual-banking system.For more than a century, CSBS has given state regulatorsa national forum to coordinate supervision and developpolicy related to regulated entities. CSBS also providestraining to state banking and financial regulators, andrepresents its members before Congress and federalfinancial regulatory agencies.State regulators supervise 4,622 state-chartered banks –representing 78 percent of all U.S. banks -- with more than 5.4 trillion in combined assets. State-chartered banks areresponsible for roughly 45 percent of small loans to U.S.businesses and three-quarters of all agricultural lending.Most state banking departments oversee non-banks,such as mortgage providers, money services businesses,consumer finance companies, payday lenders, checkcashers, and debt collection firms. As of December 2016,state regulators licensed 16,355 mortgage companies,145,253 individual mortgage loan originators, and morethan 100,000 (fact check) additional non-depositoryfinancial services providers across the nation.CORPORATE GOVERNANCECSBS is a professional regulatory association, and itsBoard of Directors and voting members are comprised ofstate regulators. CSBS is governed by bylaws and its Board,which is comprised of 22 voting members. Officers includechair, chair-elect, vice chair, treasurer, secretary andimmediate past chair. During 2016-17, Charles G. Cooper,commissioner of the Texas Banking Department, served asCSBS chairman. The chief executive officer of CSBS is theorganization’s president, who is recruited and employedby the CSBS Board.4AFFILIATED ENTITIESCSBS Education FoundationIn 1984, CSBS created theEducation Foundation of StateBank Supervisors (EFSBS).TheFoundation’s purpose is to fund anddirect CSBS’s education and trainingefforts.The membership of the CSBSEducation Foundation Board ofTrustees is comprised of stateregulators and interacts extensively with the CSBS Boardof Directors. Officers of the Foundation Board of Trusteesinclude the chair, vice chair, treasurer and immediate pastchair. During 2016-17, Melanie G. Hall (pictured above),commissioner of the Montana Division of Banking andFinancial Institutions, served as Foundation chair and, inthis role, a voting member of the CSBS Board of Directors.There are a total of 15 voting members of the FoundationBoard of Trustees.State Regulatory Registry LLCIn 2006, CSBS, on behalf of stateregulators and in cooperationwith the American Association ofResidential Mortgage Regulators(AAMR),formedtheStateRegulatory Registry LLC (SRR) tooversee the development andoperations of the NationwideMultistate Licensing System andRegistry (NMLS) as a licensing andregistration system for non-depository financial servicesindustries. In 2008, Congress approved the SAFE Act,which authorized NMLS to function as the nationwide toolfor licensure of mortgage loan originators.During 2016-17, Robert J. Entringer (pictured above),commissioner of the North Dakota Department of FinancialInstitutions, chaired the SRR Board of Managers and, inthis role, also was a voting member of the CSBS Board.The SRR Board of Managers is comprised of eight stateregulators, including the CSBS Board chair, who serves asan ex officio, non-voting member on the SRR Board. Inaddition to the chair, SRR Board officers include the vicechair, CSBS treasurer, and a designate from AARMR.2016 ANNUAL REPORT
CSBS STRATEGIC PLAN 2015-2018The following strategic plan was approved and adopted by the CSBS Board of Directors in December2014. This long-term plan guides CSBS staff efforts, and is intended to be implemented over athree-year period.VISIONThe Conference of State Bank Supervisors will be the recognized leaderadvancing the quality and effectiveness of regulation and supervision ofstate banking and financial services.MISSIONCSBS supports state regulators in advancing the system of state financialsupervision by ensuring safety, soundness, and consumer protection;promoting economic growth; and fostering innovative, responsivesupervision.GUIDING VALUESCollaboration – To effectively meet the needs of our diverse economy,the banking and financial services sector demands collaboration andeffective dialogue and planning. CSBS will work actively to convene stateand federal regulators, other state associations, and industry to identifyregulatory challenges and facilitate consensus.Education – A hallmark of CSBS’s work has been the education of a broadbase of banking, financial services, and regulatory stakeholders to empowerstate decision making, to serve its members and communicate the valueand benefits of a strong dual-banking system and state regulation.Innovation and responsiveness – CSBS is dedicated to addressing theevolving needs of banking and financial services consumers by facilitatinga competitive and diverse market.Integrity – Honesty and fairness are foundational to public and industryconfidence in our regulatory system.Professional excellence – CSBS will continue to provide training, engagethought leaders, and maintain the highest of standards in all that we do.Relationship building – CSBS’s work depends on our ability to effectivelycommunicate and understand many points of view. Through strongrelationships, CSBS will continue to work with, and learn from, others.Communication – CSBS understands that to be effective and supportour vision and mission, we must listen and learn before we formulatepositions, and then share our work in a manner that is understandableand adaptable to CSBS’s audiences and stakeholders.CONFERENCE OF STATE BANK SUPERVISORSSTRATEGICPLANOBJECTIVESObjective 1. BankRegulation and Supervision: Promoteright-sized regulation and supervisionof banks consistent with their size,complexity, overall risk profile, and riskto the financial systemDevelop appropriate legislative,regulatory and supervisory solutions.Equip state regulators to challengethe inappropriate or disproportionateapplication of federal regulation.Promote the role of state agenciesto differentiate them from federalregulators. Support the role and value ofbanks in the community and economy.Objective 2. Non-Bank Regulation andSupervision: Facilitate an effectivesystem of non-bank regulation andsupervision, ensuring consumerprotection and access to necessaryfinancial services and creditCoordinate the role of states andappropriate federal agencies. Advocate,communicate and highlight the roles ofstate agencies. Provide support for theactivities of the state system.Objective 3. Education and ProfessionalStandards: Educate and informexaminers, the public, governmentofficials, and CSBS stakeholdersInstill confidence among stakeholdersand the public in the state system offinancial regulation by enabling highquality state agency licensing, examand management staff through training,certification and accreditation.5
CSBS BOARD OF DIRECTORS (May 2016 - May 2017)CHAIRMANCHAIRMAN ELECTVICE CHAIRMANTREASURERCharles G. CooperCommissioner, TexasDepartment of BankingAlbert L. ForknerState BankingCommissioner, WyomingDivision of BankingCharlotte N. Corley, CEMCommissioner, MississippiDepartment of Bankingand Consumer FinanceBret AfdahlDirector of Banking,South Dakota Divisionof BankingSecretaryVacantImmediate Past ChairCandace A. FranksCommissioner, Arkansas State Bank DepartmentMember-at-LargeChris MyklebustCommissioner, Colorado Division of Banking6Chairman, Regulatory CommitteeKevin B. Hagler, CEMCommissioner, Georgia Department of Bankingand FinanceChairman, State Supervisory Processes CommitteeJudi M. StorkDeputy Commissioner, Kansas Office of the StateBank CommissionerMember-at-LargeGavin GeeDirector of Finance, Idaho Department of FinanceChairman, CSBS Education Foundation Board of TrusteesMelanie G. HallCommissioner, Montana Division of Banking andFinancial InstitutionsChairman, Non-Depository Supervision CommitteeJan Lynn OwenCommissioner, California Department ofBusiness OversightChairman, State Regulatory Registry LLC Board ofManagersGordon CooleyCommissioner, Maryland Office of Financial RegulationChairman, Legislative CommitteeTrabo ReedDeputy Superintendent of Banks, Alabama StateBanking DepartmentIndustry Co-Chairman, Bankers Advisory BoardK. Brent Vidrine *Bank of Sunset & Trust Company, Sunset, Louisiana2016 ANNUAL REPORT
Chairman, District ICynthia StuartDeputy Commissioner, Vermont Department ofFinancial RegulationChairman, District IIKaren K. LawsonDirector, Office of Banking, Michigan Department ofInsurance & Financial ServicesChairman, District IIIRay GraceCommissioner, North Carolina Office of Commissionerof BanksChairman, District IVMark QuandahlDirector, Nebraska Deparment of Banking and FinanceChairman, District VIris IkedaCommissioner, Hawaii Division of Financial InstitutionsCHAIRS EMERITUSChairman Emeritus (2013 – 2014)Charles A.
Guam, Northern Mariana Islands, Puerto Rico and U.S. Virgin Islands. State regulators oversee 4,500 state-chartered banks, along with a variety of non-bank financial services providers. For more than a century, CSBS has supported state regulators in advancing the system o
commissioned the Cyber Security Breaches Survey (CSBS) an annual survey of UK businesses and charities as part of the National Cyber Security Programme. The findings help to understand the nature . identify the questions that cannot be included in a longitudinal survey as they would suffer from conditioning of respondents. The CSBS and FTSE .
The CSBS model MSB law draft is based on and overlays the Uniform Money Services Act, . to elect officers and management, and influence over the company’s management. A 10% . commercial paper, and corporate debt subject to a 30% haircut. The working group seeks greater clarity for funds held at
Texas Bankers Electronic Crimes Task Force - Sept 2011 (CSBS / FS-ISAC Edition) Page 4 of 19 BEST PRACTICES FOR REDUCING THE RISKS OF CORPORATE ACCOUNT TAKEOVERS I. Protect P1. Expand the risk assessment to incorporate Corporate Account Takeover. The risk assessment should include risks of Corporate Account Takeovers and be reviewed/updated at
Annual Report 2020 compared to our 2019 Annual Report. The total carbon footprint for printing CIMB Annual Report 2020 was 11,588kgCO2e, compared to 14,987kgCO2e for our 2019 annual report. The carbon footprint for the 3 books of CIMB Annual Report 2020 is 14.485kgCO2e. We are committed to reducing the environmental impact of our annual report .
and Meeting Schedules: 6: Annual Report Workgroup Next Steps: Next steps for FY18 report development: 1. HITAC full committee reviews report . FY18 Annual Report Draft discussed: March 1, 2019. FY18 Annual Report Draft discussed: Winter/Spring 2019. FY18 Annual Report completed as needed:
Launched an online proctored MLO testing option, giving candidates an alternative to taking tests in physical test centers. As low rates drove home refinances and purchasing, we positioned NMLS Consumer Access as a vital tool in the homebuying
Annual Management Report (AMR) and the FY 2020 Annual Performance Report (APR), included in this Annual Report. As the FY 2020 Annual Report illustrates, PBGC’s two insurance programs are in dramatically different financial positions. The Single-Employer Insurance Program continues to imp
How are you currently supporting your local tourism ADVENTURE INDUSTRY RESPONDENTS: OVERVIEW businesses concerning COVID-19? Tourism boards are primarily supporting the local industry through open communication, and by providing tools, resources and information to help members weather the crisis. % Percentage of respondents . 29 ORGANIZATIONAL CONCERNS (Tourism Boards) ATTA 2020 29. Q36 .
