Friday, 05 24, 2013
Kelly May, Public Information Officer
The following press release was issued by the Conference of State Bank Supervisors.
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New CSBS Chairman Outlines Priorities
Nashville, TN — Charles Vice, Commissioner of the Kentucky Department of Financial Institutions and newly appointed Chairman of the Conference of State Bank Supervisors (CSBS), outlined the priorities for his chairmanship during the CSBS State-Federal Supervisory Forum.
In his address before state and federal financial regulators, Vice stressed the importance of establishing and fostering relationships in order to be an effective regulator. “People and communities are what matter in life,” he said. “The relationships we regulators have with one another, with the institutions we supervise, and with the industry trade associations we interact with, are vital to financial supervision and the banking system. Relationships enable us to put trust in people, not just regulatory processes or supervisory ratios.”
Vice spoke specifically of the relationship between state and federal regulators. “We need each other, period,” he said. “Through this relationship, we provide checks and balances, we leverage our strengths, and we minimize our weaknesses.”
Chairman Vice also outlined his objective to preserve the diversity of the financial services industry, ranging from the largest multi-national institution to the smallest community bank. “Each category of institutions is critical to our economy and must exist,” Vice said. There is a tremendous strength in this diversity and we must ensure that it survives. We must ensure that community banks flourish. It is critical to the success of our economy.”
Vice was appointed Chairman on May 20, 2013 and will serve for a one-year term.
CSBS is the nationwide organization of banking regulators from all 50 states, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. State banking regulators supervise approximately 5,300 state‐chartered financial institutions. Further, most state banking departments also regulate a variety of non-bank financial services providers, including mortgage providers. For more than a century, CSBS has given state supervisors a national forum to coordinate supervision of their regulated entities and to develop regulatory policy. CSBS also provides training to state banking and financial regulators and represents its members before Congress and the federal financial regulatory agencies.
Originally released May 22, 2013
By the Conference of State Bank Supervisors
Catherine Woody, Senior Director of Communications, firstname.lastname@example.org or 202-728-5733
Rockhelle Johnson, Manager of Communications, email@example.com or 202-407-7156