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Thursday, October 10, 2013

CFPB Ending Practice of Bringing Enforcement Lawyers to Exams

The Wall Street Journal reports that the "Consumer Financial Protection Bureau said it is ending its practice of bringing enforcement lawyers to regular examinations of financial institutions." The banking industry has in the past asked the CFPB to amend this policy. The change will become effective November 1. According to CFPB spokeswoman Jen Howard, the agency “found that it wasn’t efficient to have both examiners and enforcement attorneys physically present on exams.”

The full article can be found in our twitter feed, @ABARegPolicy, on the right of the ABA Dodd-Frank Tracker homepage.

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