WBK Industry News - State Regulatory Developments

CSBS Announces 2020 Legislative Priorities for State Regulators

John W. Ryan, president and CEO of Conference of State Bank Supervisors (CSBS), recently announced the legislative priorities for state regulators for 2020.

According to the CSBS’ press release, the legislative priorities are to:

  • Amend the Bank Service Company Act to enhance coordination between regulators at the federal and state levels regarding examinations of bank third-party service providers;
  • Work to strengthen proposals to reform the Bank Secrecy Act and anti-money laundering provisions;
  • Advocate for states to be able to take further action in the area of data security by setting federal floors, not ceilings;
  • Protect state licensing and/or supervisory authority over financial services by working to oppose federal legislation that preempts these matters; and
  • Support the nomination of someone with state bank supervisory experience to the FDIC Board pursuant to requirements under the Federal Deposit Insurance Act.