The CFPB last month issued its first contested supervisory designation order against a nonbank. The bureau said other companies that had received notices consented to supervision.
The update, the first in nine years, broadens the pool of CFPB officials eligible to evaluate appeals, the options for resolving appeals and the matters subject to appeals.
The CFPB has a goal to close 65% of its enforcement investigations within two years of the start of an investigation. The agency has been nowhere near that goal in recent years.