twitter linkedin
facebook google+

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from

Mortgage News Reprints
Put entire stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed stories free on your Web site or for your RSS reader.

News Archives
Archive of stories by month going back to 1999.

Press Releases
Reports and announcements from

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News


Mortgage News

HOT Topics









site map
Financial Regulation News | Mortgage Regulations
Bank and mortgage regulators, regulations and regulatory actions. Coverage of regulatory legislation and testimony.
CFPB Coordinates Regulation With States

Framework established between CFPB and CSBS

May 22, 2013

By Mortgage Daily staff

An agreement two years ago between federal and state regulators to coordinate supervision of companies that provide consumer financial products and services took a step forward this week.

A memorandum of understanding was executed in January 2011 by the Consumer Financial Protection Bureau and the Conference of State Bank Supervisors.

The conference says it is "the nation's leading advocate for the state banking system, and the only national organization dedicated to advancing the state banking system."

At the time, the regulators said they would work to maintain consistent examination procedures, create effective enforcement of state and federal consumer laws and minimize regulatory burden. The CFPB said it would consult with the states about their standards, procedures and practices on compliance examinations.

The CFPB is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act to coordinate supervisory activities with state bank regulators.

On Tuesday, the CFPB announced that it had established a framework with which to work with its state counterparts. The framework facilitates the implementation of the Dodd-Frank act requirement "by providing a guide for flexible and dynamic regulatory coordination that both protects consumers and reduces regulatory burden on industry."

The framework establishes a process for coordination on supervision and enforcement and impacts situations where the CFPB and state regulators share concurrent supervisory jurisdiction.

Processes for annually coordinating exam schedules and information requests, developing comprehensive supervisory plans for particular institutions and streamlining information sharing are all addressed by the framework. It also addresses processes for providing advance notice of corrective actions.

All non-depository institutions, as well as depository institutions with more than $10 billion in assets, are subject to the framework -- though a majority of the examinations covered by the framework are those on large, multi-state entities.

"By working together, we are streamlining our processes, making the most of our joint resources, and ensuring evenhanded oversight of federal consumer financial laws," CFPB Director Richard Cordray said in the statement.

However, the CFPB and state regulators will continue to independently conduct examinations that are outside the intended scope of the framework.

State & Federal Regulators Agree to Consistency
State regulators and the new federal regulator of mortgage lenders have agreed to maintain consistency in the way they conduct examinations.

2013 CFPB-State Supervisory Coordination Framework

next story

back to current headlines

Mortgage Compliance News | Mortgage Compliance Newsletter | Mortgage Regulations
News about complying with mortgage laws, rules and regulations.

Bank news

Logout forgot

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter


mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders