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CFPB reviews supervisory processes, reveals multi-year strategic plan

Joe Mont | February 14, 2018

Building upon a controversial scaling back of its once zealous enforcement, and a zeroed-out budget request, the new leadership at the Consumer Financial Protection Bureau is continuing its public consultation process as it releases a new, five-year strategic plan for operations through 2020.

On Feb. 14, the CFPB issued a Request for Information regarding the Bureau’s supervision processes. “The Bureau is seeking comments and information from interested parties to assist in assessing the overall efficiency and effectiveness of its supervision program and whether any changes to the program would be appropriate,” it said.

The CFPB has supervisory authority over insured depository institutions and credit unions with total assets over $10 billion and their affiliates, as well as non-depository financial institutions, regardless of size, in certain specific markets including mortgage companies (originators, brokers, servicers, and offerors of loan modifications or...

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