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CHLA Asks CFPB for regulatory protections for smaller IMBs

In a letter to CFPB Director Rohit Chopra, CHLA called attention to the Dodd-Frank requirement for the CFPB to tier regulation of IMBs by size, volume, and extent and state regulation – calling on exemptions from exams for smaller IMBs and a formal policy that smaller IMBs would have the opportunity to correct compliance problems before being hit with fines and other enforcement actions