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Home » New Strategic Plan Indicates CFPB to Use Tech, Data to Supervise
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New Strategic Plan Indicates CFPB to Use Tech, Data to Supervise

October 23, 2017
The CFPB recently issued its strategic plan for fiscal years 2018-2022, with a heavy reliance on technology and data to make sure the industry is complying with its various rules and regulations.The document articulates a handful of the bureau’s goals for the next five years, and then breaks out the various objectives by which it intends to reach those goals, along with strategies to attain those objectives.The CFPB’s most relevant goal for lenders, from a supervisory and compliance point of view, is to prevent financial harm to consumers while promoting good practices that work for consumers, responsible providers, and the economy as a whole. One objective the agency plans to pursue is to supervise institutions to foster compliance ...
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