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Bipartisan support grows for better exam coordination

Joe Mont | July 18, 2017

In a letter to Treasury Secretary Steven Mnuchin, Reps. Scott Tipton (R-Colo.) and Kyrsten Sinema (D-Ariz.) have spearheaded a bipartisan effort demanding that the agency “better coordinate and streamline oversight of bank holding companies, savings and loan holding companies, and their affiliates.”

“We urge you to prioritize policies that address the current lack of coordination of supervisory examinations and other supervisory activities that unnecessarily drain resources from both regulated institutions and the government, hey wrote in a letter co-signed by 25 legislators. “We have concerns that this lack of coordination has the potential to negatively impact, rather than bolster, the risk profile of a supervised firm.”

“As part of your ongoing effort to examine the regulatory structure of the U.S. financial system, more concrete steps are needed...

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