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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