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News Massachusetts Division of Banks Recognizes Merrimack College Student Team Participating in National Community Bank Study Competition

Commissioner commends Merrimack team for competing in Community Bank Case Study Competition
6/08/2020
  • Division of Banks
2020 Merrimack Team

June 2020

Commissioner of Banks Mary L. Gallagher commended a team of students from Merrimack College for competing in the 2020 Conference of State Bank Supervisors (CSBS) Community Bank Case Study Competition.

The annual Community Bank Case Study Competition is open to undergraduate students in all fields of study as an opportunity to gain valuable first-hand knowledge of the banking industry. This year, each student team developed an original case study that evaluates how their local community bank is meeting the requirements of the Bank Secrecy Act (BSA). They were also asked to identify potential regulatory reforms.

In addition to providing undergraduate students with an excellent opportunity to engage and gain valuable knowledge of the banking industry, the case study competition serves as a platform for community banks to tell their individual stories.  Students gain a greater understanding of the community bank business model and the important role community banks play in local communities.

“I applaud these students for their efforts in working with their community bank partner to tackle the complex area of BSA compliance, an area of increasing importance for community banks,” said Gallagher.

“Merrimack College teams have participated multiple times in this competition and I thank the college and its faculty advisors who have committed valuable time to sponsor student teams and, in turn, demonstrate continued support for banks in your community!”

Division of Banks 

The Division of Banks (DOB) is the chartering authority and primary regulator for financial service providers in Massachusetts. DOB's primary mission is to ensure a sound, competitive, and accessible financial services environment throughout the Commonwealth.
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