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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Published In: Administrative Agency Updates, Business Organization Updates, General Business Updates, Consumer Protection Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Richik Sarkar, McDonald Hopkins LLC | Attorney Advertising

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