MBA Letter to CFPB on Rescission of Nonbank Registry Rule Final Rule
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MBA appreciates the opportunity to comment on the Consumer Financial Protection Bureau’s (Bureau or CFPB) proposed rescission of the Nonbank Registry Rule Final Rule (the NBR Rule or Final Rule). We believe the CFPB is taking the appropriate steps by reexamining the need for the registry. MBA supports this approach and believes that a thorough review of the statutory basis, costs and duplicative nature of the Final Rule should lead the Bureau to rescind it.
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