Bill would amend CFPB info requests

by. Nicholas Ballasy

Sen. Dan Coats (R-Ind.) has introduced the Community Financial Protection Act, which would provide credit unions and community banks relief from financial regulations enacted after the financial crisis.

The bill would reform the way the CFPB requests information from financial institutions with less than $10 billion in assets by requiring the CFPB to gather publicly available information or obtain information from existing banking regulators.

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