Simply Stated - All Things Finance

Simply Stated - All Things Finance

Financial Regulation can be complicated. Join us for interviews with state financial regulators, commissioners, policymakers, and CSBS staff to gain further insight on how banks, money transmitters, check cashers, and all forms of financial services are supervised and supported by our regulatory system.

Episodes

May 5, 2021 17 min

Guest: CSBS Senior Director of IT Security Engineering & Operations Charles Hill

Today, we speak with Charles about SolarWinds to learn what it is, what happened with the company and the far-reaching consequences of this cybersecurity breach.

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"States of the Economy" is a monthly look at the economic picture across the country. In our discussion, CSBS Senior Economist Tom Siems focuses on how the national economic picture impacts local communities and what state regulators are looking out for.

At the end of each quarter, CSBS also includes feedback and data from community bankers who completed the Community Bank Sentiment Index (CBSI) for the quarter.

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One of the key responsibilities of state and federal regulators is to help maintain the public’s trust in the nation’s financial system. One of the key ways they go about maintaining this trust is by preventing bad actors and illicit funds from using banks and financial companies to move money.

But here’s the thing about bad actors; just because there’s a law on the books and a cop on the beat doesn't means they stop trying. As ...

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March 15, 2021 9 min

In this week's episode, we talk with CSBS's CISO Todd Scharf and learn about how ransomware can impact consumers and employees. We also cover common red flags and how consumers can protect themselves from ransomware attacks.

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March 10, 2021 15 min

"States of the Economy" is a monthly look at the economic picture across the country. In our discussion, CSBS Senior Economist Tom Siems focuses on how the national economic picture impacts local communities and what state regulators are looking out for.

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February 23, 2021 24 min

How consumers borrow, invest, store, and send money is changing more rapidly than ever before, and the pace of that change is only set to accelerate.

State regulators have always been responsive to changes in the industry, responding to innovations in banking in finance for over 100 years.

But the changes affecting financial services in the past several years are different. Companies and transactions are becoming faster, more complex...

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February 10, 2021 15 min

"States of the Economy" is a monthly look at the economic picture across the country. In our discussion, CSBS Senior Economist Tom Siems focuses on how the national economic picture impacts local communities and what state regulators are looking out for.

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Guests: 

  • Anthony Polidori – Idaho Deputy Director and Chair-Elect of the Multistate Mortgage Committee
  • Kirstin Anderson – Oregon Director and President of the American Association of Residential Mortgage Regulators
  • Over the last few episodes, we’ve been talking about this strategy state supervisors use to approach the rapid change of the financial system. That strategy is called “Networked Supervision,” and it has a lot of different p...

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    October 27, 2020 12 min
    If you’ve been paying attention to state supervision lately, you’ve probably heard the phrase “Vision 2020” several times. Vision 2020 has been an initiative to modernize and enhance the state supervisory system in a way that makes licensing, examination, and supervision easier, safer, and more effective.When the work launched in 2018, there was a lot of public outreach. State regulators held town halls, hearings, and more to get f...
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    September 1, 2020 20 min

    This is the story of your money. How it moves, who protects it, and the careful balance between keeping your money safe and allowing new ideas and apps to use this system. And we talk about a new federal government plan that could seriously harm this system.

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    Guest: Chuck Cross, Senior Vice President of Non-Bank SupervisionHost: Matt LongacreSupervision is hard. Examiners, whether it’s for banks or nonbanks, are a unique breed. Not only must they have a mastery of financial services and the institutions that they supervise, and not only do they need a strong knowledge of what’s necessary for compliance, they must also orchestrate an extremely difficult balance between maintaining an exa...
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    Originally Recorded in February 2020. As we enter the quiet summer months, Simply Stated is re-broadcasting the "greatest hits" of the podcast. Look out for more content in August and beyond.Guest: Rachel Siegel - Senior Associate, Consumer Finance, The Pew Charitable TrustsHost: Matt LongacreTimestamps2:22 - What is a "mobile payment?"4:10 - Are mobile payments companies utilizing the current infrastructure or buil...
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    For a financial services business and for a regulator, a license provides clarity. The business knows who is supervising their activity, has someone to talk to when they want to be sure they are complying with laws, and provides confidence they are permitted to operate in a state. The state regulator who issues the license is able to see into the operations of financial services that are impacting their communities, making it easie...
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    In this soundbite, CSBS Senior Director and Non-Depository Counsel Matt Lambert walks us through how transactions involving cryptocurrencies are regulated, which activities are licensed at the state level, what "on ramps and off ramps" are, and more.
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    June 8, 2020 6 min
    In this mini-podcast, we answer the question "What is an agent of the payee? Are they licensed? How are they regulated?"
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    In this mini-episode, we ask what qualifies as a Money Services Business and who regulates them.
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    CSBS COVID-19 Resource Page: https://www.csbs.org/mortgage-relief-coronavirusShow notes: www.csbs.org/covid-pod10The current economic situation is unprecedented. How do you put it into perspective? We compare unemployment and jobless claims to crises past and try to get a handle on just how severe of a downturn we are having.People are reporting struggles with their mortgage servicers and getting forbearance or other mortgage payme...
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    Today, I’d like to focus on a group undergoing a tremendous amount of change, both because of COVID-19 and in spite of it: financial regulators. Next week, state and federal regulators will meet as they do every year, albeit digitally, at the State-Federal Supervisory Forum. The forum provides an opportunity for regulators to connect, learn, and find new ways to collaborate with one another.
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    What happens when you put $669 billion of grants and loans into the financial system all at once? An expert talks about how the program is intended to work and changes over time. In a rush against the clock, a small business owner tries to get a loan for herself and for a minority-owned business client. An expert on community banks explains how they fit into the program.
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    CSBS COVID-19 Resource Page: www.csbs.org/information-covid-19-coronavirusShow notes: www.csbs.org/covid-pod9Twenty-six million have applied for unemployment since the start of the COVID-19 Pandemic. We look at state-level data to figure out where the nation has been hardest-hit.Broad consensus now exists among legislators, state regulators and the industry about what needs to happen to help prevent a mortgage financing crisis. Has...
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