In an ironic twist, the commercial banking industry is coming to the defense of the Consumer Financial Protection Bureau (CFPB).

While still skeptical about the bureau's existence, banks are squarely in its corner in terms of regulating the competition. In recent comment letters on the bureau's options for supervising nonbanks, banking trade groups uncharacteristically push the bureau to be aggressive with its nonbank supervision program and praise CFPB for starting the program early. Others are left to play the role of agitator, arguing the CFPB is overreaching.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.