This first edition of the CFPB Supervision and Examination Manual is a guide to how the CFPB will supervise and examine consumer financial service providers under its jurisdiction for compliance with Federal consumer financial law.

The Manual is divided into three parts. The first part describes the supervision and examination process. The second part contains examination procedures, including both general instructions and procedures for determining compliance with specific regulations. The third part presents templates for documenting information about supervised entities and the examination process, including examination reports.

To fulfill its statutory mandate to consistently enforce Federal consumer financial law, the procedures in this manual are designed to be used by examiners to examine supervised entities that offer similar types of consumer financial products or services, or conduct similar activities. While all supervised entities must operate in compliance with applicable laws, the CFPB will tailor its expectations of how that is accomplished to fit particular entity profiles.

In this first edition, we have incorporated examination procedures developed under the auspices of the Federal Financial Institutions Examination Council (FFIEC) for many of the laws now generally enforced by the CFPB, including the Truth in Lending Act, Real Estate Settlement Procedures Act, and the Fair Credit Reporting Act. The CFPB will also use the Uniform Consumer Compliance Rating System established by the Federal Financial Institutions Examination Council.

Our Manual will also include examination procedures organized by product and line of business, beginning with procedures for reviewing mortgage servicing. We expect to continually update the Manual as compliance requirements evolve.

A dynamic supervision program depends on continual enhancement. Contributions from all stakeholders are critical in the accomplishment of this goal. The CFPB welcomes feedback and suggestions for improvements from examiners, the banking industry, nonbank financial services companies, federal and state agencies, consumer and community groups, and the general public.

Click Here to see the manual