Thought today’s #WednesdayWisdom would give you something to think about 🙂 Hope you’re having a great week!
The Conference of State Bank Supervisors (CSBS) is the national organization of bank regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico and U.S. Virgin Islands. State regulators supervise roughly three-quarters of all U.S. banks and a variety of non-depository financial services. CSBS, on behalf of state regulators, also operates the Nationwide Multistate Licensing System to license and register non-depository financial service providers in the mortgage, money services businesses, consumer finance and debt industries.
Since 2003, CSBS has been an alliance partner in the FDIC’s Money Smart program. The program helps adults enhance their money management skills, understand basic financial services offered by the financial mainstream, and build their financial confidence to use banking services effectively.
In 2008, CSBS launched its Nationwide Mortgage Licensing System and Registry (NMLS). The System is used by state residential mortgage regulators to process licenses by mortgage lenders, brokers, and mortgage loan originators. NMLS enhances state regulators’ ability to protect consumers by increasing their ability to hold industry professionals accountable for their actions. The system was expanded in 2009 to provide consumers an online public database disclosing the licensing status of firms and individuals, including any state enforcement history. The System was further expanded in 2012 to accommodate state use of NMLS for non-mortgage, non-depository financial services industries.