Conference of State Bank Supervisors (CSBS)’s Post

The CFPB updated its procedures for overseeing non-bank financial firms with a seemingly routine rule. However, it's now evident that the agency has split its examination and enforcement arms into separate divisions, diverging from their previous combined structure under SEFL. “Though they were under the same division, they were fairly autonomous,” says Mike G. Silver, a partner at Husch Blackwell and a former senior counsel at the agency. He notes it could make some proceedings – such as the agency’s process for putting certain non-banks under its oversight, which was the subject of yesterday’s rule – “quicker and more streamlined.” Read more (log-in may be required): https://lnkd.in/g2VKeWUa #consumerfinance #nonbanks #regulationupdate

Thrilled at the news of Matthew Connolly seeking $150mn from the bank after exoneration in the rate-rigging case! It's a remarkable turn of events that highlights the importance of accountability and justice in the financial sector. Predict that this case will set a precedent for holding financial institutions accountable for their actions and encourage more victims of wrongful accusations to seek restitution. Commentary: - This outcome should serve as a warning to banks to uphold ethical standards in their practices - It showcases the power of standing up against injustice and fighting for what is right. - The impact of this case goes beyond monetary compensation; it signifies a victory for truth and integrity in the financial industry. As we celebrate this victory for Matthew Connolly, let's also remember the importance of fairness and transparency in all aspects of our work. Here's to a future where justice prevails! #financialjustice #accountability #fairness

🚀 Elevate your financial acumen with our latest CPE course, "Free Money: The Legacy of Freedman's Bank," now available on the Earmark app! Discover an often-overlooked chapter of American financial history—the rise and fall of the Freedman's Bank. Led by historian Justene Hill Edwards and financial expert Caleb Newquist, this course offers invaluable insights into historical banking practices and their long-lasting impact. Why should you enroll? - Uncover the origins of American savings banks and delve into the legislative milestones that shaped financial institutions. - Understand the critical factors that led to the Freedman's Bank’s collapse and the lessons learned from its operational challenges. - Analyze the amended charter’s collateral requirements for bank loans and the pivotal figures associated with the bank's downfall. Join us in assessing the legacy of Freedman’s Bank and its lessons on public trust in financial systems. Don't miss out on this opportunity to enhance your historical and regulatory knowledge, crucial for every accounting and finance professional committed to continuous learning. Ready to expand your expertise? Enroll now: https://earmark.app/c/2073 #ContinuingEducation #FinanceHistory #EarmarkApp #FreedmansBank

Would you call yourself small-minded? At First Commonwealth Federal Credit Union we do, because small-minded banking is about prioritizing our members' financial resilience above everything else. Learn more at https://lnkd.in/eV-xphVe

Check out the latest issues of Colorado Banker Magazine! This issue features in-depth articles on current banking trends and best practices that are essential for banking professionals. Whether you're a seasoned banker or new to the industry, this edition offers valuable insights to help you navigate today's financial landscape. https://lnkd.in/gTjW43YR

The NCUA works to protect credit union members and consumers, raise awareness of potential frauds, facilitate access to affordable financial services, and educate consumers on the importance of savings and how they can improve their financial well-being. #creditunions #customersuccess #customerservice #finance

The NCUA works to protect credit union members and consumers, raise awareness of potential frauds, facilitate access to affordable financial services, and educate consumers on the importance of savings and how they can improve their financial well-being. #creditunions #customersuccess #customerservice #finance

Jersey has excelled in the latest MONEYVAL report, but what does this mean for you? Swipe through to explore some of the key findings and recommendations that will shape the financial services industry in Jersey👉 #moneyval #jerseyci #financialservices

Paisley’s Role in Scotland’s Financial History 💰 While not the birthplace of Scottish banknotes, Paisley’s local banks, like the Paisley Bank, played a critical role in the financial development of Scotland. 📈 How do you think local banking history can influence modern financial education and innovation? #PaisleyHeritage #FinancialHistory #CommunityBanking

The Consumer Financial Protection Bureau (CFPB) has finalized a rule to limit overdraft fees for large financial institutions with over $10 billion in assets, effective October 1, 2025. Under the new regulation, these institutions must choose one of three options: cap overdraft fees at $5 per transaction, charge a fee that only covers their costs and losses, or continue charging higher fees while providing credit card-like disclosures to consumers. This rule aims to save American consumers an estimated $5 billion annually, or about $225 per household that pays overdraft fees. The CFPB's action is part of a broader effort to combat what the Biden administration calls "junk fees," although banking trade groups argue that overdraft protection is a valuable service and warn of potential negative consequences for consumers. https://lnkd.in/gUVHK9qD