CSBS Releases Action Items to Improve Regulation of Nonbank Financial Services Companies
On February 14, 2019, the Conference of State Bank Supervisors (“CSBS”) announced several actions that it would be taking to modernize and harmonize state licensing, regulation, and supervision of non-depository financial institutions, including mortgage lenders, money services businesses, and consumer finance companies.
The announcement came in response to a list of recommendations issued by the CSBS Fintech Industry Advisory Panel (the “Panel”). The Panel, which was formed in 2017 as part of CSBS’s “Vision 2020”…