Thursday, June 25, 2015

Who is Supervised by the CFPB?

As the CFPB continues to expand its list of larger participant rules, it is sometimes hard to keep track of exactly who comes under the CFPB supervision.  Currently, the CFPB supervises:

  • Depository Institutions and Credit Unions with total assets of more than $10 billion and their affiliates
  • Nonbanks regardless of size in specific markets, including:
    • mortgage companies (including originators, brokers, servicers, and providers of loan modification or foreclosure relief services)
    • payday lenders
    • private education lenders
  • Larger Market Participants (NonBanks)
    • Consumer reporting
    • Consumer Debt Collection
    • Student Loan Servicing
    • International money transfers
    • Nonbank auto finance

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