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Course/Product Description

CFPB Audits: Being Prepared And Staying Compliant To Save Time And Money

Date / Time: Recorded
Format: Webinar

Preparing for and responding to one of the Consumer Financial Protection Bureau's (CFPB) examinations can be a daunting task, particularly for institutions that are under prepared.

This webinar helps the persons responsible for preparing for the CFPB examination/audit understand how to prepare for the examination/audit. In addition, this content will provide practical advice for responding to the CFPB.

We will also identify recent trends in CFPB public enforcement and supervisory efforts, which may be indicative of future CFPB priorities during an examination/audit.


How to Prepare for a CFPB Examination

  • The Compliance Management System – the Narrative
  • The Product - Origination, Advertising, Servicing/Collection
  • Specific Statutory Compliance
  • Unfair, Deceptive and Abusive Acts and Practices
What to Expect During an Examination
  • The Cost of an Examination:
  • The Monetary Costs and Other Expenses the Company Will Incur to Respond to a Civil Investigative Demand
  • Overview of the Timing Elements of an Examination Including the Time Constraints for the Initial Responses and Then Various Other Deadlines Throughout the Examination
  • Expectations Regarding Other Company Resources and Temporary Changes to Business Operations During an Examination
  • The Content of the Civil Investigative Demand:
  • The Various Types of Requests of Information
  • The Breadth of the Information Requests
  • How the Information Must Be Produced to the CFPB
  • The Follow-up and Waiting Game
  • After the Initial Production of Information, the CFPB May Have Followup Requests for Information
  • Waiting for the Results and What to Expect to Receive From the CFPB Including Fines and Improvements to Business Practices
Recent Trends in CFPB Supervisory Efforts and Enforcement Actions
  • Deposit Products
  • Auto Origination and Ancillary Products
  • Auto Loan Servicing
  • Debt Collection
  • Mortgage Origination, Mortgage Servicing and Loss Mitigation
  • Student Loan Servicing
  • Cards
About The Presenters

Jeffrey P. Barringer
  • Member in the Albany office of McGlinchey Stafford PLLC
  • Practice emphasizes all aspects of state and federal consumer financial services regulatory compliance for creditors/servicers operating in several states or nationally
  • Regularly assists creditors/servicers respond to regulatory inquiries and examination issues
  • Regularly presents on regulatory compliance issues relating to mortgage origination
  • American Association of Residential Mortgage Regulators, Industry Advisory Council; New York Mortgage Bankers Associations, Board member and Legislative Committee member; American Bar Association; member, Consumer Financial Services Committee
  • J.D. degree, summa cum laude, Albany Law School
Susan Chylik
  • Member in the Cleveland office of McGlinchey Stafford PLLC
  • Represents banks, finance companies, mortgage companies and consumer lenders advising them on regulatory compliance for consumer loan documentation, e-commerce, underwriting, and servicing and collections practices
  • Assists companies in responding to state and federal examinations, including Civil Investigative Demands issued by the CFPB
  • Presents annually at the Wolters Kluwer and McGlinchey Stafford Consumer Financial Services Conference on servicing issues affecting the financial services industry
  • American Bar Association Consumer Financial Services Committee, member and Young Lawyer Liaison to the Electronic Financial Services Subcommittee; Ohio State Bar Association member
  • J.D. degree, The Ohio State University Moritz College of Law
Brian Fink
  • Of Counsel in the D.C. office of McGlinchey Stafford PLLC
  • Advises depository and nondepository financial institutions on aspects of compliance, government investigations, and regulatory issues and has extensive high-level experience with the CFPB and Banking Regulators
  • Prior experience includes serving as supervisory analyst, attorney advisor, and senior analyst within the CFPB's Office of Supervision Policy and focusing on CFPB's payday, deposit and over-draft, mortgage origination, and automobile origination examination programs. Resolved complex examination issues, with particular emphasis on issues relating to the Truth in Lending Act, Real Estate Settlement Procedures Act, Truth in Savings Act, Electronic Funds Transfer Act, and the determination of unfair, deceptive, and abusive acts and practices (UDAAP)
  • J.D. degree, Hamline University,1999; M.B.A. degree, University of St. Thomas, 2002
Robert Savoie
  • Senior associate in the New Orleans office of McGlinchey Stafford PLLC
  • Practice regularly involves assisting state and national banks, mortgage lenders, motor vehicle sales finance companies, and small dollar lenders with substantive consumer financial services compliance and with CFPB and other governmental agency examinations and civil investigative demands
  • Conducted presentations on a wide variety of topics, ranging from debt collection issues and mortgage servicing rules for American Bar Association meetings and webinars to Servicemembers’ Civil Relief Act compliance in the context of Department of Justice examinations
  • Published articles on subjects ranging from mortgage servicing to debit card interchange fees to mortgage foreclosure compliance
  • J.D. degree, Notre Dame Law School, 2010
  • American Bar Association, Member, Consumer Financial Services Committee, Vice-Chair of the Young Lawyers’ Subcommittee

Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
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