The passage of the Dodd-Frank Act created the Consumer Financial Protection Bureau (“CFPB”), significantly increasing regulatory scrutiny over consumer finance activity, including mortgages, auto loans, student lending, debt collection, consumer reporting, and other consumer lending-related activities. Dodd-Frank provided regulators with new powers of inquiry and enforcement relating to both newly created regulations and long-standing fair lending rules.
FTI Consulting can help entities prepare for CFPB exams by proactively identifying and addressing potential concerns or by helping to respond to regulatory inquiries and defend alleged violations. We help clients provide timely, accurate, and forthcoming responses to regulatory inquiries which can facilitate quick and cost-effective resolutions.