Dear Representative Hollingsworth:
With respect to the Conference of State Bank Supervisors (CSBS), 1 i will be composing to convey our members’ severe concerns with and opposition into the Modernizing Credit Opportunities Act (H.R. 4439), which seeks to ascertain that the bank could be the “true lender” in every loan project arrangement by having a service provider that is third-party. State regulators have unique window into bank and non-bank financing relationships by virtue of these work chartering banking institutions, licensing non- bank loan providers, and overseeing the conduct of both forms of entities, including financing partnerships between your two. State regulators will also be the “boots on the floor,” policing their areas to guard customers from harmful and exploitative lending options that run afoul of state legislation. مطالعه بیشتر