WASHINGTON — Though the Obama administration has attempted to assure lawmakers that its proposed new consumer protection agency would focus equally on banks and nonbank lenders, there are growing doubts about whether that will really happen.

With approximately 8,000 banks already examined once a year by their regulators, observers unanimously say it would be impossible for a new agency to oversee tens of thousands of nonbank lenders to the same degree.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.