Today, CSCB continues to act as a representative body of its members and to provide a forum through which its member organisations can discuss and debate matters of mutual interest or concern that are non-competitive in nature and that are of significant relevance to the operation of banking in Scotland.
Bank of Scotland, founded by Act of The Scottish Parliament in 1695 and The Royal Bank of Scotland, formed by Royal Charter in 1727, showed no love for each other in their early years but, from 1750, when small private banks began to appear, the two "public" banks came together to protect their interests. The primary cause for concern was that of note issues. Practically all the private Bank of Scotland issued their own notes, often with scant security and with some form of option about repayment. The two established banks saw here not only a menace to their own development but an inflationary danger to the Scottish economy as well. Eventually, following an initiative by The Royal Bank, a "memorial" was prepared in 1764 concerning "The paper money used in Scotland" and soliciting "An Act of Parliament against the illegal banking companies in Scotland". Thus was formed a body comprising both banks to take joint action to solve a common problem.