Regulatory examinations
We advise institutions and CFPB larger participants in preparing for and navigating through complex regulatory examinations, which frequently have the potential to become enforcement actions. We work to prevent actions from ever becoming public by convincing the government to either withdraw the threatened formal enforcement action or to impose a confidential supervisory remedy.
We advocate a proactive approach to managing compliance and navigating complex relationships with various state and federal regulators. Our team works with clients to identify and address potential compliance gaps and program enhancements to mitigate the impact of supervisory actions.
Our assistance includes conducting mock examinations; directing comprehensive risk assessments and institution-wide audit assessments; monitoring the flow of information during the exam process; crafting appropriate responses to regulator requests and Reports of Examination, including CFPB notice of Potential Action and Request for Response (PARR) letters; and addressing any items that require corrective action.