CSBS Appreciates Continued Congressional Oversight of Critically Flawed FDIC Corporate Governance Proposal

Washington, D.C - CSBS President and CEO Brandon Milhorn issued the following statement in response to a House letter sent to the FDIC today:

"We appreciate the continued oversight by Congress of the FDIC's flawed corporate governance guidelines and are pleased that the FDIC does not intend to finalize the rules over the next two months. Moving forward, this proposal should be permanently scrapped."

Contact: Susanna Barnett, 202-407-7156, [email protected]

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The Conference of State Bank Supervisors is the national organization of financial regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico, and U.S. Virgin Islands. State regulators supervise 79% 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.