Eastern Kentucky University Students Win First Place in CSBS Community Bank Competition
Federal Reserve Bank of Cleveland President Loretta Mester will give one of the keynote addresses for the sixth annual Community Banking in the 21st Century research and policy conference that will be held Oct. 3-4 at the Federal Reserve Bank of St. Louis. Federal Reserve Board of Governors Vice Chairman for Supervision Randal Quarles will also give keynote remarks. The conference, hosted by the Federal Reserve System and the Conference of State Bank Supervisors (CSBS), brings together community bankers, academics, policymakers and bank supervisors from across the country to discuss the latest academic research on community banking, as well as important policy issues facing the sector. Other guest speakers will include Federal Reserve Bank of St. Louis President James Bullard, Commissioner of the Mississippi Department of Banking and Consumer Finance and CSBS Chair-elect Charlotte Corley and CSBS President and CEO John Ryan.
A study released using data compiled in surveys by the Conference of State Bank Supervisors (CSBS) shows that the burden of regulatory compliance for community banks declined in 2016 after increasing in the previous year. Compliance expenses as a share of noninterest expense rose from 5.5 percent in 2014 to 8.1 percent in 2015 before dropping to 7.7 percent in 2016. The study suggested that this pattern of expenses may have been related to implementation of mortgage regulations under the Dodd-Frank Wall Street Reform and Consumer Protection Act. In 2016, compliance with mortgage-related regulations accounted for about one-third of all regulatory costs.
Applications for the Community Banking in the 21st Century Emerging Scholars program are due Friday, June 8, 2018. First introduced as part of the 2015 conference, the Emerging Scholars Program is intended to support Ph.D. students who are considering or working on a dissertation on a banking-related topic. Three scholars will be selected to attend and participate in the 2018 conference, with their travel and lodging expenses paid by the program. Previous scholars have found attending the conference to be a very valuable experience.