The Manufactured Housing Institute (MHI) reported in its Weekly Review that the Consumer Financial Protection Bureau (CFPB) implementation team currently housed within the U.S. Treasury Department and the Conference of State Bank Supervisors (CSBS) recently signed a memorandum of understanding (MOU) to establish a framework of state and federal coordination and cooperation contemplated by the financial reform bill passed last year, and to preserve the confidential nature of the information the parties share among themselves. The MOU further provides that state regulators and the CFPB will consult each other regarding the standards, procedures and practices used by state regulators and the CFPB to conduct compliance examinations of providers of consumer financial products and services, including non-depository mortgage lenders, mortgage servicers, private student lenders and payday lenders. The parties will work together to promote consistent standards, and minimize the regulatory burden on providers of consumer financial products and services operating in multiple states. Elizabeth Warren, special adviser to Treasury Secretary Tim Geithner, on the CFPB says without the assistance of states, it would be nearly impossible for the federal agency to carry out its duties in a fair and effective manner.