While all eyes were on the recess appointment of its first director Wednesday, the Consumer Financial Protection Bureau (CFPB) quietly released guidance that directs supervised banks to turn over any and all information it requests.

The bureau said supervised institutions — banks with more than $10 billion in assets, and in the near future, certain nonbanks — may not selectively withhold documents based on their judgment that the materials "are not necessary to the bureau's execution of its responsibilities or that other materials would be sufficient to suit the bureau's needs."

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