Consumer Financial Protection Bureau's Examination, Investigation, and Enforcement Authority

The Bureau for Consumer Financial Protection (CFPB) is charged with the enforcement of federal consumer protection laws and regulations. This practice note covers how to effectively prepare for CFPB examination activities and enforcement action.

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Related Content        

• Legal Framework for U.S. Consumer Regulatory Law
  Gain a complete understanding of the federal legal framework for financial institutions and entities that provide consumer financial services. This practice note will provide the practitioner with a view of the CFPB in regulating consumer financial products and services.

• Responding to Consumer Financial Protection Bureau (CFPB) Civil Investigative Demands
  Access this practice note to learn about the CFPB’s civil investigative demands (CIDs). In addition to providing an overview of the CID process, this practice note outlines the roles and responsibilities of legal counsel and witnesses under pertinent federal laws and regulations.

• CFPB Examination Checklist
  Explore this checklist which outlines the steps financial institutions or entities regulated by the CFPB should take to prepare for an examination.

• Alternative Data in Lending Checklist
  Review this checklist for guidance on the use of alternative data in connection with financial products and services. Alternative data sources, such as artificial intelligence, machine learning, and computer-assisted underwriting, used in evaluating borrowers' creditworthiness, are under scrutiny for violations of federal and state consumer protection laws and regulations administered by the CFPB and other agencies.

Practical Guidance Updates
Featuring the latest updates from your Practical Guidance account.                    

• Trends & Insights provides the latest in news articles and insight documents on trending areas for financial service organizations including important areas of CFPB’s focus, e.g., Comment: US Federal Trade Commission warns AI abuses will be regulatory focus.
• CFPB Examination and Investigation Resource Kit covers key issues, laws, and regulations applicable to in-house lawyers and counsel advising on consumer protection matters, including links to helpful practice notes.
• Federal Fair Lending and Credit Practices Manual § 16.02 (2022) is an invaluable secondary source covering CFPB supervision and examination of consumer financial services institutions under its jurisdiction for compliance with the federal consumer financial laws.
• The Practical Guidance Journal Fall Edition features guidance as financial institutions gear up for climate-related risk implications under Executive Order 14030.
• Check out the new Practical Guidance Author Center! Learn about the 1500+ leading attorney authors contributing to our 20 practice areas, and find out how you can Become a Practical Guidance Author.
• Document alerts are now available in Practical Guidance. This allows you to stay current on legal developments that affect your practice. Find out how to set up your document alerts.

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