The American Bankers Association and the Conference of State Bank Supervisors both told the Consumer Financial Protection Bureau they support the CFPB’s proposed rule on nonbank supervision, albeit from different perspectives. The ABA “supports the proposed procedures that will subject to the bureau’s supervisory authority even the smallest competitors who choose not to follow existing laws and regulations and are engaged in conduct that poses risk to consumers,” the group said. Moreover, the ABA said, it believes that the...