AUSTIN — Days after he suggested smaller banks should be subjected to different consumer-compliance rules than larger ones, Consumer Financial Protection Bureau Director Richard Cordray said regulators simply should consider the differences between financial institutions when crafting rules for everyone.

"What I have said is there are different institutions at different levels of sophistication and that's something that we should very much take into account as we go about writing regulations for the broader market," Cordray said in remarks to the Consumer Bankers Association convention here. "As to where we draw those lines, it's going to vary from market to market, (and) it's going to vary from product to product."

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