Statement of Intent for sharing information with State banking and financial services regulators
The Consumer Financial Protection Bureau (“CFPB”) is committed to developing
productive working relationships with State banking and financial services regulators (State
Regulators). The CFPB recognizes the importance of coordinating supervision and other
activities relating to nonbank consumer financial service providers over which the CFPB and
State Regulators have jurisdiction. Such coordination was a purpose of the January 4, 2011
memorandum of understanding (“MOU”) and similar MOUs the CFPB has entered into with
various State Regulators. Effective State and Federal coordination benefits supervised entities
and the consumers they serve through more efficient supervision.