Consumer Financial Protection Bureau Launches Supervision Program for Nonbanks

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Consumer Financial Protection Bureau Launches Supervision Program for Nonbanks

On January 5, 2012, the United States Consumer Financial Protection Bureau (CFPB)

officially began the first federal nonbank supervision program. This new program will

be a component of the CFPB’s bank supervision program, which began in July 2011.

The CFBP’s announcement came shortly after former Ohio Attorney General Richard

Cordray was appointed to head the CFPB on January 4, 2012.

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