Kathy Hurt Asks about Multi-State Examinations

bloglogoKathy Hurt with Pulte Mortgage asked if multi-state exams are still underway now that the CFPB is doing coordinated supervision with the states.

Chuck Cross with CSBS indicated the Multi-state Mortgage Committee (MMC) is still facilitating multi-state exams and the Multi-state MSB Examination Taskforce (MMET) is coordinating state exams of money services businesses (MSBs).  The MMC and MMET will oversee the multi-state exams for the mortgage and MSB industries that will be coordinated by the State Coordinating Committee with the CFPB.  For the foreseeable future, the MMC and MMET will continue to coordinate state-only coordinated supervision for each of their areas of oversight.

One industry participant even asked how her organization can request to be subject to a multi-state exam to enjoy more efficiency!

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