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The Department of Financial Protection and Innovation has a long history, dating back to the formation of California's first banking department. It became the DFPI in 2020 with the passage of the California Consumer Financial Protection Law (CCFPL). [2] Formation of State Banking Department (1909) and State Corporations Department (1913)
Pursuant to the Governor's Reorganization Plan No. 2 of 2012, the Department of Financial Institutions and Department of Corporations became divisions of the California Department of Business Oversight (DBO) on July 1, 2013.
NMLS was created in January 2008 by the Conference of State Bank Supervisors (CSBS) and the American Association of Residential Mortgage Regulators (AARMR), [2] both based in Washington, DC. It began operations as a voluntary system among seven states cooperating to improve regulation of the mortgage and other non-depository industries through ...
Trump advisers and potential nominees have also discussed plans to either combine or otherwise restructure the main federal bank regulators: the FDIC, OCC and the Federal Reserve, the WSJ report ...
The United States relies on state-level bank supervisors (or "state regulators", e.g. the New York State Department of Financial Services), and at the federal level on a number of agencies involved in the prudential supervision of credit institutions: for banks, the Federal Reserve, Office of the Comptroller of the Currency, and Federal Deposit ...
Last year, the pro-Trump Heritage Foundation's Project 2025 manifesto called for "more streamlined" bank supervision through the merger of the FDIC with other bank regulators.
12 C.F.R. §550.136(c) lists six types of state laws that, in certain specified circumstances, are not preempted with respect to federal savings associations. [jargon] In the banking and financial services industry, two significant regulators are the Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau.
Major changes to bank regulations are uncommon outside of a financial crisis, according to the WSJ. Most of today’s bank rules were created after the Great Recession and Great Depression.