DCCA NEWS RELEASE: Hawaii Financial Commissioner named Regional Chair of Conference of State Bank SupervisorsPosted on Jul 13, 2017 in Latest Department News
Commissioner Iris Ikeda to Represent Western States
Honolulu – Iris Ikeda, Commissioner of the Hawaii Division of Financial Institutions, has been named chair of the Conference of State Bank Supervisors (CSBS) District V region. As District V chair, Ikeda represents members of the western district at the CSBS Board of Directors on issues pertaining to state and federal legislation, banking membership, Conference meetings and the CSBS Education Foundation.
District V membership includes state commissioners from Alaska, Arizona, California, Guam, Hawaii, Idaho, Montana, Nevada, Oregon, Utah, Washington, Wyoming, and American Samoa.
The Conference of State Bank Supervisors (CSBS) is the nationwide organization of banking regulators from all 50 states, American Samoa, the District of Columbia, Guam, Puerto Rico, and the U.S. Virgin Islands. State banking regulators supervise nearly 4,850 state-chartered financial institutions, in addition to other financial services providers including mortgage lenders and financial technology (fintech) companies. CSBS provides state supervisors a national forum to coordinate supervision of regulated entities and develop regulatory policy, provides training to state regulators, and represents its members before Congress and federal financial regulatory agencies.
“It is an honor to continue to represent Hawaii and the District at the CSBS Board,” said Ikeda. “Over the last few years, we have held rigorous discussions on a range of issues regarding the banking industry’s changing landscape. Some items of note include proposed changes to the Dodd-Frank Act, the proliferation of non-depository financial institutions, and the conflict between state and federal laws regarding the dual banking system.”
Deliberations have also focused on the interaction of emerging financial technology companies with state and federal banking laws. Representatives from the fintech industry have been invited to join a factfinding discussion at the upcoming District meeting to identify the role of fintech in the current banking environment, and to identify ways that these companies can provide their services to complement banking and non-depository financial institutions.
“I am excited about the prospect of delivering bank products and services in a creative and innovative way. These new technologies could be incorporated across the financial industry locally and nationally to streamline or improve operations,” added Ikeda.
As part of Vision 2020, the CSBS Board approved creation of theCSBS Fintech Industry Advisory Panel. The panel will engage with the CSBS Emerging Payments and Innovation Task Force and other state regulators to identify actionable steps for improving state licensing, regulation, and non-depository supervision and for supporting innovation in financial services. The CSBS is also currently utilizing fintech to redesign the Nationwide Multistate Licensing System (NMLS), with the goal of transforming the licensing process and enabling the streamlining of multi-state supervision.
The Hawaii Division of Financial Institutions (DFI) ensures the safety and soundness of state-chartered and state-licensed financial institutions, and ensures regulatory compliance by state-licensed financial institutions, escrow depositories, money transmitters, mortgage servicers, mortgage loan originators and mortgage loan originator companies, by fairly administering applicable statutes and rules, in order to protect the rights and funds of depositors, borrowers, consumers and other members of the public. Website: http://cca.hawaii.gov/dfi/. Twitter:@HawaiiDFI