CFPB READINESS REVIEW

We assess risk, build compliance frameworks, and manage the entire CFPB examination process — start to finish.

A Consumer Financial Protection Bureau (CFPB) readiness review is designed to prepare businesses that provide consumer financial products or services for a potential CFPB audit. Our objective is to evaluate the strength and effectiveness of the organization’s Compliance Management System (CMS).

CFPB READINESS ASSESSMENT SOLUTIONS

Understanding and navigating the complexities of Consumer Financial Protection Bureau (CFPB) regulations is essential for every financial institution. We offer in-depth CFPB Readiness Assessment services designed to ensure your operations align with existing regulations and are equipped to adapt to future regulatory developments.

PROFESSIONAL EXPERTISE IN CFPB COMPLIANCE GUIDANCE

Our team of seasoned professionals offers in-depth expertise and a strong command of CFPB compliance. We stay at the forefront of evolving regulatory trends to ensure our clients are well-positioned for future changes. Our services encompass the management of non-prosecution agreements, deferred prosecution agreements, CFPB examinations, and state-specific audits—delivering customized guidance that aligns with your organization’s specific requirements.

COMPREHENSIVE ASSESSMENT COVERAGE

Our readiness assessments are comprehensive, addressing key components of your organization’s compliance framework. We begin by evaluating the strength of board and management oversight, focusing on how leadership fosters a strong compliance culture and enforces high standards. A thorough risk assessment follows, identifying potential vulnerabilities and offering strategic recommendations to mitigate them effectively. We also examine the development and implementation of policies and procedures, ensuring they are both compliant and tailored to your operational needs. Additionally, we review your training programs to confirm that your team is well-informed and equipped to meet regulatory expectations. Lastly, we assess your monitoring systems to ensure they are proactive, responsive to regulatory updates, and capable of sustaining long-term compliance.

Industry Experience: We’ve worked with top financial firms, including high-growth fintechs and traditional lenders.
Regulatory Expertise: Our team includes former examiners, compliance officers, and legal specialists.
Real Insights: We don’t just copy regulations — we translate them into practical, scalable systems you can actually use.
White-Glove Support: From board-level strategy to hands-on remediation, we’re in your corner every step of the way.

Why Choose Us?

As of January, 2025, CFPB enforcement actions have resulted in:

$19.7 billion in consumer relief

Approximate monetary compensation, principal reductions, canceled debts, and other consumer relief ordered.

195 million people eligible for relief

Estimated consumers or consumer accounts eligible to receive relief.

$5 billion in civil money penalties

Approximate civil money penalties ordered.

Source: “Enforcement by the numbers.” Consumer Financial Protection Bureau, January 30, 2025.

A CFPB audit (more formally called a "CFPB examination") is a compliance review to ensure that a financial institution is following federal consumer financial laws, including:

Truth in Lending Act (TILA)
Real Estate Settlement Procedures Act (RESPA)
Fair Credit Reporting Act (FCRA)
Equal Credit Opportunity Act (ECOA)
Fair Debt Collection Practices Act (FDCPA)
Dodd-Frank Act provisions (UDAAP: Unfair, Deceptive, or Abusive Acts or Practices)

Who gets audited:

The CFPB audits banks, credit unions, mortgage lenders, payday lenders, auto lenders, debt collectors, credit reporting agencies, and fintechs—especially if they:

Handle consumer loans or credit
Have significant customer complaints
Show signs of regulatory noncompliance
Are randomly selected as part of a supervisory cycle

What happens during a CFPB audit:

Notification Letter: The institution receives a letter of examination, including a request for documents.
Pre-Examination Prep: The entity must provide policies, procedures, transaction data, complaints logs, audit reports, etc.
On-Site Examination or Remote Review: CFPB examiners review documents, interview staff, and sample transactions.
Findings & Report: A Report of Examination (ROE) is issued outlining any violations, weaknesses, or areas needing improvement.
Corrective Action: Institutions must address findings, which could include policy changes, consumer redress, or enforcement actions.

Why it matters:

Failure to comply can lead to fines, restitution to consumers, and even public enforcement actions.
It's essential for regulated entities to have strong compliance management systems (CMS), internal audits, and training in place.