Harrisburg, PA - Today, Acting Secretary of Banking and Securities (DoBS) Richard Vague congratulated students from Mansfield University of Pennsylvania for placing third out of 37 college teams in the national 2020 Community Bank Case Study Competition.
The team partnered with CN Bank in Wellsboro, Tioga County to prepare a case study focused on how community banks have been meeting the Bank Secrecy Act (BSA) requirements, understand the challenges smaller banks encounter in their efforts to comply with BSA requirements, and identify potential regulatory reforms. The case study is an opportunity for college students to work directly with senior bank management and better understand the value of community banking. Each student will receive a $250 scholarship.
“The students from Mansfield University had a fantastic case study presentation and I’m pleased their research will be published, adding to the body of knowledge on this important issue,” said Vague. “On behalf of the department, we congratulate the students, their faculty advisor, and the bank for all of their hard work.”
The students will have their case study published in the annual CSBS Journal of Community Bank Case Studies, along with the overall winner and second place team.
Since 2017, DoBS has actively supported students and universities in the competition by:
- Informing colleges and faculty about the program;
- Helping identify bank partners for student teams; and
- Promoting and acknowledging successes of Pennsylvania teams.
DoBS encourages students to pursue financial services industry careers as part of a broader emphasis on student engagement including the Next Generation Bankers Academy and FinLit programs.
For more information on the Community Bank Case Study Competition, visit csbs.org/bankcasestudy.
The DoBS Investor Education and Consumer Outreach Office works with state and local government agencies, service providers, community and trade organizations, the General Assembly, the military community, schools, and other partners to help Pennsylvanians across the commonwealth become well-informed about the financial marketplace.
Consumers are reminded that if they have questions about banks, bank products, or bank transactions they can call the Department of Banking and Securities at 1-800-PA-BANKS to discuss their issues with a trained professional. Learn more about fraud and scam prevention by following the department on Twitter or subscribe to the department newsletter.
MEDIA CONTACT: Virginia Lucy - 717-214-6036, RA-BNDOBSCOMM@pa.gov
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