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Monday, December 17, 2012

CFPB Reorganizes Supervision Offices

The CFPB will be reorganizing their Headquarters staff for Supervision.
Previously the Headquarters staff had been organized into offices for Nonbank and Large Bank Supervision. The two offices will know focuses one on examinations and the other on policy.

The Examinations office will focus on the CFPB’s efforts to: recruit, train, and commission examiners; ensure policies and procedures are followed; and plan and execute examinations appropriately.

The Policy office will ensure that policy decisions for supervision are consistent with the law and the CFPB mission, and that they are consistent across markets, charters, and regions. The office will be organized by product or service market rather than by the type of financial institution.

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