Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Wednesday, May 9, 2012

CFPB's Intentions to Regulate Nonbank Institutions

CFPB Director Richard Cordray spoke today at the 2012 Simon New York City Conference covering a range of topics focusing on the CFPB’s intent to regulate nonbanking financial institutions.
At the Consumer Bureau, we believe in evenhanded and reasonable oversight of the marketplace. And we are seeking to accomplish that by broadening the regulatory structure to include federal oversight of both banks and the nonbank firms that directly compete against one another in many of these same markets.
Cordray noted nonbank mortgage market participants, such as lenders, brokers, and originators, are “held to no standards of accountability at all.” The CFPB is the first federal agency authorized to supervise such non-bank players.

Read the full speech.

No comments:

Post a Comment

Please read our comment policy before making a comment.