Tabs

Bank/Thrift Supervision   |    Capital    |    CFPB    |    Deposit Insurance    |    Interchange    |    Mortgage Finance
Municipal Advisors   |    OCC-OTS Merger   |    Preemption    |    QM - QRM    |    Swaps   |    Volcker Rule    |    Full Topics List
 
Qualified Mortgage - Qualified Residential Mortgage
Swaps
Consumer Financial Protection Bureau - CFPB
Bank/Thrift Holding Company Supervision
Capital
Deposit Insurance
Interchange
Mortgage Finance
Municipal Advisors
OCC-OTS Merger
Preemption
Volcker Rule
Corporate Governance
Financial Stability Oversight Council (FSOC)
Appraisals
Office of Financial Research (OFR)
Systemic Risk
Supervision and Oversight
Payment, Clearing and Settlement
Prudential Supervision
Trust & Securities
Asset-Backed Securities
Resolution Authority

Wednesday, December 4, 2013

Ombudsman Recommends CFPB Improvements

The CFPB’s ombudsman has recommended several improvements to the bureau’s exam procedures and communications efforts. The ombudsman said the bureau is adopting its recommendations.

Based on concerns from supervised institutions about how to escalate examination problems and the scope of exam activities, the ombudsman recommended several enhancements to exam procedures. The CFPB should clearly identify the exam team members -- including the examiner in charge -- and their contact information, the ombudsman said. The bureau should also refer to the citation manual during exam communications, clearly describe the exam process up-front and provide regular updates on the exam’s status.

The ombudsman urged the CFPB to make it easier for users to access all updates on consumerfinance.gov and that they provide “more consistent and advanced lead time” for its public events.

Read the report.

No comments:

Post a Comment

Please read our comment policy before making a comment.