The Mortgage Bankers Association, in its second letter to the Consumer Financial Protection Bureau, urged the Bureau to withdraw a proposal requiring nonbanks to register and report their use of certain terms and conditions in form contracts for consumer financial products and services.
Tag: Nonbank Registry
MBA, State Regulators Ask CFPB to Withdraw Nonbank Registry Proposal
The Mortgage Bankers Association urged the Consumer Financial Protection Bureau to withdraw a controversial proposal requiring covered nonbank financial institutions to register with and report to the Bureau when they become subject to certain public local, state, or federal consumer financial protection agency or court orders.