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CFPB Announces Supervision Agreement with State Regulators

Posted on 5/22/2013

The Consumer Financial Protection Bureau (CFPB) announced yesterday that the Bureau and the Conference of State Bank Supervisors have agreed to a framework for coordinated supervision and enforcement intended to govern situations in which CFPB and a state bank supervisor share jurisdiction.

The framework addresses coordinating exam schedules, developing comprehensive supervisory plans for particular institutions, coordinating information requests, streamlining information sharing, and providing advance notice of corrective action, the CFPB said.

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