This may be the most important update you will ever read about the CFPB and their current Exam strategy.
Recently we obtained specific information about the CFPB’s current Exam Procedures. The information is credible and shows with great clarity what the CFPB expects to accomplish in an exam. It also confirms the CFPB has asked the states to incorporate CFPB and FFIEC procedures into state audits.
The CFPB has also created an Exam Rating System and asked the states to adopt it. We have been seeing this rating system in use for six months in certain states. It is probably coming to your neighborhood soon.
Read my report and trust me this is worth your time.
CFPB Exam Objectives and Procedures 052616
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Nelson A. Locke, Esq.
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