The Conference of State Bank Supervisors recently formalized its plans to modernize state banking regulations in the next three years. Margaret Liu, deputy general counsel for the association, said the plans are well underway to transform the landscape for nonbanks, including financial technology companies.
The state banking regulators’ way forward for nonbanks, Vision 2020, outlines six ways in which the CSBS seeks to provide “a regulatory system that makes supervision more efficient and recognizes standards across state lines” by 2020, according to a press release.
