The CFPB Supervision and Examination Manual (Manual) is our guide for examiners to use in overseeing companies that provide consumer financial products and services. Our manual describes how the CFPB supervises and examines these providers and gives our examiners direction on how to determine if companies are complying with consumer financial protection laws.
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We released Version 2.0 of the manual in October 2012. Since then, we have released new chapters and/or updated chapters, as listed below. Please review the list below to make sure that you are referencing the most recent version of the chapter that you are interested in.
- October 1, 2012 – CFPB Supervision and Examination Manual – Version 2.0 (PDF)
Updates in reverse chronological order are:
- April 1, 2015 – RESPA Procedures – TILA RESPA Integrated Disclosures (applicable for examinations after the August 2015 effective date), and Mortgage Servicing Requirements (January 2014)
- April 1, 2015 – TILA Procedures – TILA RESPA Integrated Disclosures (applicable for examinations after the August 2015 effective date), and Higher-Priced Mortgage Loan Appraisals (January 2014), Escrow Accounts (January 2014), and Mortgage Servicing Requirements (January 2014)
- February 18, 2015 – Credit Card Account Management examination procedures
- May 2, 2014 – Examination report and supervisory letter templates (and cover letters)– revised format
- January 10, 2014 – Mortgage Origination examination procedures
- January 10, 2014 – Mortgage Servicing examination procedures
- December 3, 2013 – Education loan examination procedures
- November 27, 2013 – RESPA procedures – home ownership and equity protection (January 2014) and mortgage servicing requirements (January 2014)
- November 27, 2013 – TILA procedures – Higher-Priced Mortgage Loan Appraisals (January 2014), Escrow Accounts (June 1, 2013), Loan Originator Compensation (January 2014), Ability-to-Repay/Qualified Mortgages (January 2014), High-Cost Mortgages (January 2014), and Mortgage Servicing Requirements (January 2014)
- October 30, 2013 – Updated Regulation E examination procedures (including remittance transfers)
- October 22, 2013 – Remittance transfer examination procedures (Other resources to help you comply with the remittance transfer requirements are available here)
- October 9, 2013 – HMDA resubmission schedule and guidelines
- September 17, 2013 – Short-term, small-dollar lending procedures – military lending act
- July 19, 2013 – ECOA baseline review procedures
- June 4, 2013 – ECOA procedures – appraisal and valuation requirements (January 2014)
- October 24, 2012 – Debt collection examination procedures
Questions about the manual should be sent to CFPB_Supervision@CFPB.gov.
This examination manual provides internal guidance to supervisory staff of the CFPB. It does not bind the CFPB and does not create any rights, benefits, or defenses, substantive or procedural, that are enforceable by any party in any manner. While every effort has been made to ensure accuracy, examination procedures should not be relied on as a legal reference.
CFPB appeals policy
This October 31, 2012 describes how supervised entities can appeal certain supervisory findings in examination reports and supervisory letters. The policy promotes the CFPB’s goals of having constructive supervisory relationships with supervised entities and having a fair and factually based supervision program. We expect that offering a credible, fair opportunity to appeal supervisory findings should lead to greater industry compliance, and heightened compliance should in turn produce better markets for consumers.
CFPB Supervisory Highlights
At the CFPB, we supervise certain financial institutions and service providers to determine their compliance with applicable Federal consumer financial laws and to help ensure that markets for financial products and services work in a fair and transparent way for consumers. As part of that role, we periodically issue Supervisory Highlights, through which we apprise the public and the financial services industry about our examination program, including the concerns that we find during the course of our completed work, and the remedies that we obtain for consumers who have suffered financial or other harm. The Supervisory Highlights do not refer to any specific institution, but signal to all institutions the kinds of activities that should be carefully scrutinized for compliance with the law. We believe that Supervisory Highlights will help providers of financial products and services better understand our supervisory expectations so that they can take action to comply with Federal consumer financial laws and serve their customers in a fair and transparent way.
Supervisory Highlights in reverse chronological order are:
We welcome feedback and suggestions from industry representatives and participants, consumer groups, and members of the public. Comments may be sent to CFPB_Supervision@CFPB.gov.