CFPB Exams Likely To Improve Without Enforcement Muscle

Law360, New York (October 10, 2013, 7:04 PM EDT) -- The Consumer Financial Protection Bureau's Wednesday announcement that it would cease a controversial practice of having enforcement attorneys attend regular company examinations should ease tensions and allow the bureau's examiners to more effectively supervise the industry, attorneys say.

The CFPB's decision will benefit the industry and the bureau by reducing the level of confrontation that having enforcement attorneys present at regular examinations inevitably caused, even if that was not the bureau's intention, said Christopher Willis, a Ballard Spahr LLP partner.

Lifting the threat of an enforcement...
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