The Conference of State Bank Supervisors (CSBS) launched a new program that seeks to address key supervisory challenges and reduce the regulatory burden for state financial regulatory agencies.
The Catalyst Initiative will focus on partnering with the private sector to leverage technology and improve the efficiency of financial services supervision. For 2025, the Catalyst Initiative will focus on two areas for innovation and improvement. One area will explore ways to make bank data reporting less costly, more transparent, and timelier than the current quarterly submission process.
Also, the focus will be on experimenting with ways to leverage the new Mortgage Industry Standards Maintenance Organization (MISMO) mortgage compliance dataset, which was created to help regulators more efficiently review mortgage files for compliance with state and federal laws.
Additional activities are planned for 2026 and beyond.
“The Catalyst Initiative reflects the state system’s commitment to innovation,” CSBS President and CEO Brandon Milhorn said. “Just as NMLS transformed mortgage industry regulation, new supervisory technology can fundamentally change how the states help protect consumers and financial stability. These investments in new tools – made in parallel with ongoing private sector efforts – will provide better data, improved analytics, and more effective systems to quickly identify and mitigate financial risks.”
The Conference of State Bank Supervisors (CSBS) is the national organization of financial regulators from all 50 states, American Samoa, District of Columbia, Guam, Puerto Rico, and U.S. Virgin Islands.