CFPB examination: Knowing the risks and what to expect

CFPB examinations began in earnest earlier this year at the nation’s larger bank and nonbank mortgage lenders. While the agency has yet to descend on many smaller institutions, it’s important for lenders of all sizes to take steps to prepare for potential bureau scrutiny. Two top industry attorneys discussed the CFPB examination process during a recent October Research LLC Webinar. Read on to learn what to expect during an examination and where the agency is likely to focus its attention.