The CFPB's Case For Supervisory Examination Privilege

Law360, New York (January 20, 2012, 12:46 PM EST) -- In the Consumer Financial Protection Bureau’s first official release of the year, CFPB Bulletin 12-01, the agency addresses the treatment and scope of confidentiality protections accorded information collected from supervised institutions through the CFPB’s supervisory process.[1]

Bulletin 12-01 addresses two specific parts of the CFPB’s policy on confidential information.[2] First, it states that institutions providing privileged information to the CFPB pursuant to a supervisory request will not waive any privilege that attaches to such information.

Second, the bulletin indicates the CFPB will treat information obtained through...
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