Preparing for a CFPB Examination

Agency examinations are a fundamental part of supervising financial institutions and their third-party service providers. Instituted by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), the Consumer Financial Protection Bureau (CFPB) is responsible for ensuring compliance with federal consumer protection laws and regulations related to consumer financial products and services. See this practice note for a general overview of the CFPB’s examination process as well as insight into relevant enforcement actions that may inform practitioners’ regulatory strategy.

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