What’s the difference between supervisory guidance and regulation?
That’s the question the Consumer Financial Protection Bureau (CFPB) and federal financial regulators are attempting to answer. The CFPB, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corp., National Credit Union Administration (NCUA) and Office of the Comptroller of the Currency (OCC) issued a joint statement explaining the role of supervisory guidance for regulatory institutions.
Read on for details of their statement.
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