State regulators remain concerned about the ability of lenders to use the internet to reach borrowers in states where payday lending is restricted. The Bureau’s 2017 Rule would not have prevented illegal payday lending, but its implementation would…
Examining Regulatory Relief Proposals for Community Financial Institutions, Part II
Jul 15, 2014
Good afternoon, Chairman Capito, Ranking Member Meeks, and distinguished Members of the Subcommittee. My name is Sally Cline, and I serve as the Commissioner of the West Virginia Division of Financial Institutions (DFI).
Thank you for holding this hearing and considering H.R. 4626, the SAFE Act Confidentiality and Privilege Enhancement Act, which will help states promote and extend smart, efficient regulation to our state-licensed, non-bank financial services providers through expanded use of the Nationwide Multi-state Licensing System and Registry (NMLS, or the System).
Full Testimony
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