CFPB Planning Big Changes to Exam, Rulemaking Process

October 15, 2013
American Banker  
consumer financial protection bureau news

The Consumer Financial Protection Bureau (CFPB) recently announced that it intends to drastically overhaul its exam procedures to make them more expedient and to free up enforcement officers to pursue other investigations outside of exams.

Steven Antonakes, a top CFPB official, said the agency wants to accelerate how quickly it flips exam reports back to companies; give enforcement attorneys more time to focus on taking actions; and allow them more time to pursue other markets, industries, or larger participants that require tougher oversight.

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