American Financial Services Association (AFSA) Statement
on House Passage of Examination and Supervisory Privilege Parity Act
By Chris Stinebert, AFSA President & CEO
July 29, 2014
“AFSA commends the House of Representatives and the leaders of the Financial Services Committee for working to ensure that the same privilege protections afforded to banks are extended to all consumer creditors. The Examination and Supervisory Privilege Parity Act is a technical fix to the Dodd-Frank Act that provides equal protections to non-depositories when disclosing privileged materials to their regulators. The bill received bipartisan support and was passed by a voice vote of the full House.
AFSA encourages the Senate to promptly pass a companion bill to allow non-depository financial institutions to protect proprietary information shared with regulators.”
Based in Washington, D.C., AFSA (www.afsaonline.org) is the national trade association for the consumer credit industry, protecting access to credit and consumer choice. Its 350 members include consumer and commercial finance companies, auto finance/leasing companies, mortgage lenders, credit card issuers, industrial banks and industry partners.
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AFSA Commends House on Passage of Examination and Supervisory Privilege Parity Act