MBa Compliance Essentials - CFPB EXAMINATIONS: What We Know Now

MoFo Reenforcement
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In This Presentation:

- What is “Supervision”?

- CFPB’s Examination Principles

- Supervision is a Process

- Types of Examinations

- Preparing for the Examination

- EXAM PROCEDURES

- Compliance Management System

- What is a “CMS”?

- Examination Priorities?

- General Observations

- Making Sense of It All

- Where to Get It

- SAMPLE CHECKLIST

- Excerpt from What is “Supervision”?:

Congress directed Consumer Financial Protection Bureau to “require information and conduct examinations” of non-bank mortgage market participants & banks with >$10B in assets “Donut hole” for depositories of <$10B in assets CFPB required to take risk-based approach to supervision of covered persons, based on “risks to consumers posed to consumers in relevant product markets and geographic markets, taking into consideration” following four factors...

Please see full publication below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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