The CFPB Can Improve the Efficiency and Effectiveness of Its Supervisory Activities

Table of Contents

• Report Contributors and Abbreviations
• Summary of Recommendations
• Memorandum
• Introduction
• Finding 1: The CFPB Did Not Meet Reporting Timeliness Requirements
• Finding 2: The CFPB Did Not Consistently Use Standard Compliance Rating Definitions
• Finding 3: The CFPB Did Not Record Examination Milestones in a Timely Manner
• Finding 4: The CFPB Did Not Consistently Retain Evidence of Required Communication With the Prudential Regulators
• Finding 5: The Examination Reporting Policy Does Not Reflect Current Practices
• Finding 6: The CFPB Has Inconsistent Scheduling Practices and Has Not Tracked Examination Staff Hours
• Finding 7: The CFPB Has Not Finalized Its Examiner Commissioning Program
• Finding 8: An Opportunity Exists to Enhance Coordination Between the CFPB and the Prudential Regulators
• Appendix A: Scope and Methodology
• Appendix B: Management's Response