The new law will bring the nonbank financial market in alignment with European standards, enhance the quality of financial companies’ operation, protect financial service consumers, and encourage the arrival of new international players in this market by creating the right conditions. In addition, 2019 should become an important year for a further recovery in lending.
We are providing an extended 120-day comment period to allow ample time for thoughtful feedback from a broad set of stakeholders. The input from stakeholders thus far has been tremendously valuable, and we appreciate the care and concern expressed in the many comment letters and other forms of input on this important regulation.