Accreditation Handbook for State Agencies

1. The PSC shall be composed of at least eight (8) and no more than ten (10) individuals who meet the following criteria: must be an employee of the banking or non-depository department of a state regulatory agency; and whose state agency is accredited under the Program; 2. The Chair of the PSC shall be appointed by the Chairman of the CSBS Board of Directors, with advice and consent of the CSBS Board of Directors; the remaining members of the PSC shall be appointed by the Chairman of the CSBSEF Board of Trustees, with advice and consent of the CSBSEF Board of Trustees. Three (3) of the members of the PSC shall be recommended by the Chair of the American Association of Residential Mortgage Regulators (AARMR). When making appointments, the Chairman of the CSBSEF Board of Trustees shall ensure appropriate geographic distribution according to the established CSBS Districts. All members of the PSC may be removed, with or without cause, by action of the CSBSEF Board of Trustees; 3. The Immediate Past Chair of the PSC shall serve a single one-year term. 4. The Vice Chair of the PSC shall be appointed by the Chairman of the CSBSEF Board of Trustees, with advice and consent from the CSBSEF Board of Trustees. The Vice Chair shall not automatically become Chair when the Chair’s term expires, since Committee Chairs, as voting members of the CSBSEF Board of Trustees, shall be appointed by the Chairman of the CSBS Board of Directors. 5. Only the current Chair of the PSC shall be considered a voting member of the CSBSEF Board of Trustees. 6. Members of the PSC, including its Chair, shall only serve on one CSBSEF Committee at a time. 7. If a PSC member position shall become vacant, that term shall expire immediately, and a new PSC member shall be appointed for a regular term. 8. Time served as PSC Chair shall not count against time of service on the Board of Trustees. 9. Members of the PSC shall serve an initial term of two (2) years and may be extended an additional two (2) years with the approval of the Chairman of the CSBSEF Board of Trustees; 10. The PSC shall hold meetings as necessary to address issues that arise in the regular administration of the Program and shall endeavor to meet quarterly during the calendar year. The presence of a majority of the members then in office shall constitute a quorum for the transaction of business. Minutes of all Committee meetings shall be taken and approved at subsequent meetings; 11. The PSC shall have the authority to appoint working groups and members of such working groups. Any subcommittee must be appointed by the CSBSEF Board of Trustees; 12. From among the CSBS staff, the Staff Director reporting to the CSBSEF Board of Trustees shall designate, with advice and consent of the CSBS President & CEO or his designee, one or more Staff Liaisons to facilitate the activities of the PSC and report to the CSBSEF Board of Trustees. Approved by the CSBS Education Foundation Board of Trustees on Tuesday, August 2, 2016. Pending revisions are due to be approved in April 2020.

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