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ARTICLE · 16 NOVEMBER 2015

CFPB Supervisory Highlights - November 9, 2015

McGuireWoods LLP
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The Consumer Financial Protection Bureau (CFPB) recently released its ninth supervisory highlights report, which includes new findings from its supervisory program from May – August 2015.

United StatesFinance and Banking
Laura Lange
Laura Lange
Jodie Lawson
Jodie Lawson

The Consumer Financial Protection Bureau (CFPB) recently released its ninth supervisory highlights report, which includes new findings from its supervisory program from May – August 2015.   Overall, the report focuses on examination of the student loan servicing, mortgage origination and servicing, consumer reporting, and debt collection markets. In addition, the report highlights the CFPB's recent revisions to the appeal process for examinations.

In the report, the CFPB highlighted the following findings:

Credit Reporting

  • While furnishers of information under the Fair Credit Reporting Act (FCRA) generally have adequate policies and procedures for the accurate reporting of credit accounts, the policies were lacking in the area of deposit accounts.

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