CSBS Releases Three Online Tools to Support Financial Services Companies

The Conference of State Bank Supervisors, as part of an initiative aimed at modernizing nonbank licensing and supervision, announced that it launched three online tools to assist financial services companies with regulatory guidance and cyber risk awareness.  The online tools are: (i) a state agency regulatory guidance portal for nonbank financial services companies; (ii) an interactive map that summarizes state money transmission exemption requirements and identifies states that do not require money transmitter licenses for receiving payment on behalf of third parties; and (iii) a non-technical resource guide that financial institutions can use to develop comprehensive cybersecurity programs.