As a former member of the Financial Services Committee, I worked on legislation that preserves the stability and fairness of the American financial system. In that role, I introduced the SAFE Act Confidentiality and Privilege Enhancement Act, H.R. 1480, a bipartisan bill which is designed to fill an important gap in our regulatory framework.

The SAFE Act Confidentiality and Privilege Enhancement Act preserves the ability of state and federal financial regulators to share information regarding consumer financial services businesses that are licensed at the state level without losing privilege or confidentiality protections provided by state and federal law. It provides regulators with the certainty that they can continue to share information and collaborate with their colleagues across state lines. This preserves the integrity of the Nationwide Mortgage Licensing System, and helps protect consumers from bad actors who switch states for licensing purposes to evade scrutiny.

The SAFE Act passed the House of Representatives with unanimous, bipartisan support on April 13, 2015.

Read the legislation here: