CFPB Nonbank Supervision
Position Summary
States oversee a vibrant nonbank financial services market. An effective partnership with the Consumer Financial Protection Bureau (CFPB) promotes consumer protection, consumer choice, innovation, and competition. Under the Biden administration, the CFPB sought to expand its oversight of nonbank entities in ways that sometimes encroached on state supervisory authority or complicated coordinated supervision. The new Administration is now dramatically scaling back the CFPB’s footprint, creating uncertainty about the future of coordinated state-CFPB oversight of nonbanks.

CFPB Nonbank Supervision News

Press Room

CSBS President and CEO Brandon Milhorn Statement on CFPB Public Orders Registry

“State supervisors commend the CFPB for rescinding its Nonbank Public Orders Registry. Requiring nonbank entities to register and report a wide range of agency and court orders was redundant and exceeded the agency’s authority. States and the CFPB already report a significant share of covered public orders through the Nationwide
October 29, 2025
Press Room

CSBS Statement on CFPB’s Announcement to Reconsider Public Orders Registry

Washington, D.C. – Statement by Conference of State Bank Supervisors (CSBS) President and CEO Brandon Milhorn on the CFPB’s announcement regarding its Public Orders Registry: “State regulators applaud the CFPB for its decision to limit enforcement and supervision relative to its Public Orders Registry. A significant number of covered public
April 14, 2025
Press Room

CSBS Supports Efforts to Reform Small Business Data Collection Demands

Statement by CSBS President and CEO Brandon Milhorn on recently introduced legislation to reform or repeal the Consumer Finance Protection Bureau’s small business loan data collection requirements established under Section 1071 of the Dodd-Frank Act. “The CFPB final rule implementing section 1071 missed the mark. By going well beyond the
February 5, 2025
Press Room

CSBS President and CEO Brandon Milhorn Statement on CFPB Public Orders Registry

“We are disappointed that the CFPB is proceeding with its Public Orders Registry and stand by the concerns expressed by state regulators during the consultation process and in CSBS’s comment letter. CSBS’s primary focus now is to help ensure alignment between the CFPB’s Registry and the Nationwide Multistate Licensing System
June 3, 2024
Blog post

CFPB Should Reconsider Nonbank Registry

State regulators today asked the Consumer Financial Protection Bureau (CFPB) to reconsider its proposed registry for nonbank businesses that are subject to public orders for violations of federal or state consumer protection laws. The proposed registry would exceed the CFPB’s authority and is not needed to identify repeat offenders, the Conference of State Bank Supervisors said in a comment letter
March 31, 2023

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