The key passage
March 15, 2010 | federal legislation, industry | Comments (1)From the WSJ summary:
Examination and Enforcement: Authority to examine and enforce regulations for banks and credit unions with assets of over $10 billion and all mortgage-related businesses (lenders, servicers, mortgage brokers, and foreclosure scam operators) and large non-bank financial companies, such as large payday lenders, debt collectors, and consumer reporting agencies. Banks with assets of $10 billion or less will be examined by the appropriate bank regulator.
Comments»
Thanks again Payday Pundit for getting the right info to the fore-front of our industry!!
It’s been so frustrating to watch the CFPA happenings, as I have been anxiously awaiting some finality and the implications for our industry. Looks like we’re finally nearing that point!
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