Examination manual cfpb

 · The CFPB updated its Supervision and Examination Manual by adding a new section titled Compliance Management Review – Information Technology.. The new examination procedures are meant to assist CFPB examiners when assessing an entity’s information technology (IT) controls as part of a Compliance Management System (CMS) review.  · The Consumer Financial Protection Bureau (CFPB) recently added a new section to its Supervision and Examination Manual focusing on the use .  · The Supervision and Examination Manual is CFPB's guide for examiners to use in overseeing companies that provide consumer financial products or services. The manual describes CFPB supervises and examines these companies and gives its examiners direction on how to assess compliance with federal consumer financial laws.

This CMS examination manual is divided into five Modules: Module 1: Board and Management Oversight. Module 2: Compliance Program. Module 3: Service Provider Oversight. Module 4: Violations of Law and Consumer Harm. Module 5: Examiner Conclusions and Wrap-Up. In general, all CFPB reviews will include Modules 1, 2, 3, and 5. CFPB Supervision Examinations and and Examination Process Targeted Reviews CFPB February 1 Examinations and Targeted Reviews Pre-Review Planning The goal of a risk-focused review is to direct resources toward areas with higher degrees of risk. The Consumer Financial Protection Bureau’s (CFPB or Bureau) reviews focus on risks of harm to. The Supervision and Examination Manual is CFPB's guide for examiners to use in overseeing companies that provide consumer financial products or services. The manual describes CFPB supervises and examines these companies and gives its examiners direction on how to assess compliance with federal consumer financial laws.

applied these standards through case law, official policy statements, guidance, examination procedures, and enforcement actions that may inform CFPB. MBA Compliance Essentials: CFPB Examination Resource Guide © Summary: The Consumer Financial Protection Bureau (CFPB) Examination process is expansive. October 1, To the Reader: Today we are releasing Version 2 of the CFPB Supervision and Examination Manual, the guide our examiners use in overseeing.