CSBS encourages the CFPB to recognize that state regulators, through their licensing and supervisory authority, serve as the primary regulators of non-depository financial services providers.
May 21, 2018
State regulators firmly oppose H.R. 4439, the Modernizing Credit Opportunities Act, as it would allow bad actors to exploit banks’ federal preemption to issue harmful loans to consumers in contravention of state law.
May 18, 2018
Ann E. Misback, Secretary
Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue, NW
Washington, DC 20551
Docket No. R-1599; RIN 7100-AE98
May 14, 2018
Office of the Executive Secretary Consumer Financial Protection Bureau
1700 G Street, NW Washington, DC
Docket No. CFPB-2018-0003
May 14, 2018
State regulators firmly oppose the provisions of the PROSPER Act preempting state servicing laws. The preemption provisions upset the historical federal-state balance in financial regulation and wrongfully interfere with traditional state…
May 3, 2018
CSBS requests the Federal Reserve Board and OCC extend the comment period for a proposed Capital Rule.
Apr 30, 2018
In revising its existing procedures and standards with respect to CIDs and associated processes, we encourage the CFPB to do so in a manner that recognizes that state regulators serve as the primary regulators of non-depositories
Apr 26, 2018
Maintaining the primary role of the state regulatory system is critical to ensuring the continued protection of consumers and maintaining the strength and competitiveness of the non-bank financial services industry.
Apr 10, 2018