Harrisburg, PA - At the annual meeting of the Conference of State Bank Supervisors (CSBS), Pennsylvania Secretary of Banking and Securities Robin L. Wiessmann was named chair of Non-Depository Supervisory Committee (Committee).
The Committee provides a forum for state financial regulators across the country to discuss interstate policy involving a range of non-bank companies offering financial services, including money transmitters, mortgage servicers, and fintech companies. The Committee also advises CSBS’s policy development on non-depository supervision and provides oversight and support for the State Coordinating Committee, the Multi-State Mortgage Committee, and the Multi-State Money Services Business Examination Taskforce.
“I am pleased that Pennsylvania will be a leader in the national conversation about helping to protect consumers of financial services as well as coordinating efforts among states to ensure a level competitive playing field for companies doing business with our citizens,” said Governor Tom Wolf. “State financial regulators play an important role in our nation’s economy because they are close to and understand the markets they serve. I am confident in Secretary Wiessmann’s ability to serve the interests of Pennsylvania consumers and businesses with her experience and dedication.”
Collectively, state regulators oversee 79 percent of all U.S. banks and 23,000 nonbanks licensed at the state level. In 2017, state regulators, through CSBS, committed to moving towards an integrated, 50-state licensing and supervisory system for fintechs and other nonbanks.
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MEDIA CONTACT: Ed Novak - 717.783.4721
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