The Conference of State Banking Supervisors (CSBS) submitted a comment letter reiterating its opposition to the Office of the Comptroller of the Currency (OCC) proposal to issue a special charter for fintech companies.
Today, the Conference of State Bank Supervisors (CSBS) Board of Directors announced Vision 2020, a series of initiatives to modernize state regulation of non-banks, including financial technology firms. Achieving this vision should result in a regulatory system that makes supervision more efficient and recognizes standards across state lines – actions that will better support start-ups…
CSBS wrote a comment letter to the OCC opposing their proposal for a federal fintech charter.
The Value of State Financial Regulation [PDF].
The CSBS Emerging Payments Task Force studies changes in payment systems to determine the potential impact on consumer protection, state law, and banks and non-bank entities chartered or licensed by the states.
The Nationwide Multistate Licensing System is an efficient, effective way at supervising non-bank financial companies.
Videos of CSBS’s hearing with stakeholders in the emerging payments space.