WASHINGTON, D.C. — The Consumer Financial Protection Bureau (“CFPB” or “Bureau”) today released its 18th edition of Supervisory Highlights. The report covers Bureau supervision activities generally completed between June 2018 and November 2018, and includes examination findings in the areas of automobile loan servicing, deposits, mortgage servicing, and remittances.
Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Bureau is authorized to supervise banks and credit unions with more than $10 billion in assets, as well as certain nonbanks.
The report shares information regarding general supervisory and examination findings and the Bureau’s supervisory program, but does not impose any new or different legal requirements than those in relevant laws and regulations. The information is disseminated to help institutions better understand how the Bureau examines institutions for compliance.
The Consumer Financial Protection Bureau is a 21st century agency that helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, by consistently enforcing federal consumer financial law, and by empowering consumers to take more control over their economic lives. For more information, visit.