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Volume 2014 - Number 5

February 6, 2014

CFPB Streamlines Post-Exam Reports, Highlights Mortgage Servicing Violations, Supervisory Actions

The Consumer Financial Protection Bureau has decided to streamline its post-examination reporting, apparently in response to banker concerns about prompt feedback regarding lender compliance with federal consumer financial laws. In a new supervisory highlights report, the CFPB said it would stop using written recommendations – opting for oral, on‐site guidance instead. The bureau also will combine all issues it expects a bank to address into a single section called “matters requiring attention.” The agency also decided...

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