02 Aug 2022
Federal Banking Regulatory Agencies Examination and Enforcement Authority
Financial institutions in the United States have a responsibility to establish and implement risk-based compliance programs to comply with laws and regulations. Federal agencies, including the Federal Reserve Board (FRB), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), Consumer Financial Protection Bureau (CFPB), and Financial Crimes Enforcement Network (FinCEN), have oversight authority to regulate banking activities at the federal level. This practice note informs practitioners' regulatory strategy and provides an overview of the federal banking authorities, examination, investigation, and enforcement powers.
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Review the examination, investigation, and enforcement authority of the CFPB. This practice note covers best practices and strategies when negotiating CFPB examination issues, a civil investigative demand (CID), or a similar investigative or enforcement inquiry initiated by the CFPB.
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Access this practice for an overview of the investigative process of the CFPB and a review of the responsibilities of legal counsel and witnesses under federal laws and regulations.
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