And that percentage increased from roughly 40% in 2008, around 65% today. Pre 2008, no agency had authority to oversee non bank mortgage lenders. This is the mortgage market that led to the financial crisis. Congress gave the CFPB authority to oversee non-bank mortgage lenders. an authority that was not previously held by any financial agency. So do you know how many examinations the CFPB carried out on entities under its supervision since you've taken over as Director? (03:37–03:47)
CLAIM
Asserts that Congress granted the CFPB authority over non-bank mortgage lenders.
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