Manual Of Examination Supervision

Part 1 of 2 Today we are releasing Version 2 of the CFPB Supervision and Examination Manual, the guide our examiners use in overseeing companies that provide consumer financial products and services. Our manual, originally released in October 2011, describes how the CFPB supervises and examines these providers and gives our examiners direction on how to determine if companies are complying with consumer financial protection laws. We updated the supervision manual to reflect the renumbering of the consumer financial protection regulations for which the CFPB is responsible. The numbering conventions in the Code of Federal Regulations (CFR) allow the reader to easily identify which regulations fall under a particular agency's responsibility. The renumbering incorporated throughout the manual reflects the Dodd-Frank Act of 2010 transfer of rulemaking responsibility for many consumer financial protection regulations from other Federal agencies to the CFPB. In December 2011, the CFPB published its renumbered regulations in the Federal Register. The renumbered regulations also included certain technical changes but no substantive changes. The CFPB's renumbering reflects the codification of its regulations in Title 12 (Banks and Banking), Chapter X (Bureau of Consumer Financial Protection) of the CFR. For example, before July 21, 2011, the Federal Reserve had rulemaking authority for the Home Mortgage Disclosure Act, which was codified in Title 12, Chapter II (Federal Reserve System), Part 203. The CFPB's implementing regulation for the Home Mortgage Disclosure Act is now codified in Title 12, Chapter X, Part 1003.

This is version 2 of the CFPB Supervision and Examination Manual. It is the guide examiners use in overseeing companies that provide consumer financial products and services. Originally released in October 2011, it describes how the CFPB supervises and examines these providers and gives our examiners direction on how to determine if companies are complying with consumer financial protection laws. The manual has been updated in this edition to reflect the renumbering of the consumer financial protection regulations for which the CFPB is responsible. The numbering conventions in the Code of Federal Regulations (CFR) allow the reader to easily identify which regulations fall under a particular agency's responsibility. The renumbering incorporated throughout the manual reflects the Dodd-Frank Act of 2010 transfer of rulemaking responsibility for many consumer financial protection regulations from other Federal agencies to the CFPB. In December 2011, the CFPB published its renumbered regulations in the Federal Register. The renumbered regulations also included certain technical changes but no substantive changes. The CFPB's renumbering reflects the codification of its regulations in Title 12 (Banks and Banking), Chapter X (Bureau of Consumer Financial Protection) of the CFR. For example, before July 21, 2011, the Federal Reserve had rulemaking authority for the Home Mortgage Disclosure Act, which was codified in Title 12, Chapter II (Federal Reserve System), Part 203. The CFPB's implementing regulation for the Home Mortgage Disclosure Act is now codified in Title 12, Chapter X, Part 1003. In addition to changes related to the renumbering of the CFPB regulations, the manual incorporates updated interagency examination procedures for the Truth in Lending Act (TILA) and for the Fair Credit Reporting Act (FCRA), both of which were revised to reflect statutory and regulatory changes. Specifically, changes to the TILA procedures include amendments to TILA and its implementing Regulation Z pursuant to the Credit Card Accountability Responsibility and Disclosure Act of 2009. Changes to the FCRA procedures include Dodd- Frank Act amendments that require the disclosure of a credit score and related information when a credit score is used in taking an adverse action or in risk-based pricing. Finally, the manual was updated to incorporate: new examination procedures released since the issuance of the manual in October 2011 (covering mortgage origination; short-term, small-dollar lending; SAFE Act; and consumer reporting); the June 21, 2012, Interagency Guidance on Mortgage Servicing Practices Concerning Military Homeowners with Permanent Change of Station Orders; and, technical corrections and formatting changes. This examination manual provides internal guidance to supervisory staff of the CFPB. It does not bind the CFPB and does not create any rights, benefits, or defenses, substantive or procedural, that are enforceable by any party in any manner. While every effort has been made to ensure accuracy, examination procedures should not be relied on as a legal reference.

Learn how to master the supervision sub-area on your upcoming civil service exam. This guide contains tips and strategies for answering the unique question types found on the supervision sub-area. It also contains 96 actual exam questions and detailed answers to guide you to success. Written using the most up to date exam material available, this manual offers expert guidance on how to succeed.

"It is both an honor and privilege to write the foreword for this book authored by Dr. Jeff Bernstein, a personal friend, and colleague who I have known for over 30 years. Over that time, I have served as a police chief with two police agencies and served as the president for both the Florida Police Chief Association and the International Association of Chiefs of Police. I have conducted numerous police promotional processes for the ranks of sergeant to police chief, and as a lawyer I have been used as a subject matter expert in promotional processes on police practices. Currently, I serve as a presidentially appointed U.S. Marshal in the State of Florida. Dr. Jeff Bernstein, the coauthor of this book, and I have worked closely together in preparing police officers for promotional exams. He is without question the No. 1 authority on police promotional exam preparation in the country. As one of the nation's top experts in police supervision, Nathan Iannone asked Dr. Bernstein numerous times to revise his original book and update his book to be contemporary with the times. Prentice Hall also asked Dr. Bernstein to write the first official study guide for the book. The textbook you are about to read is a long-time best seller. It has been on more law enforcement promotional exam reading lists than any other book. It's considered by many to be the "Bible of Police Supervision." If you have this in your hands right now, you're probably studying for a promotional exam or taking a police supervision college class. This book is the authority in the field and addresses everything a police supervisor should know. Making a successful transition from officer to supervisor is reviewed in the book. Basic supervisory responsibilities such as training, coaching, and counseling are discussed in the book. Dealing with citizen complaints, problem employees, and tactical deployment of field forces in critical situations are all covered in the book. After reviewing and studying these areas, you will have a much better understanding of how to handle these types of situations as a supervisor or manager. A new feature to this edition is that the key points in the book have already been identified by Dr. Bernstein for you. They will help you to do better on the exam you have to take as well as be a better supervisor or manager. Every day in every police department across the country supervisors deal with employees, citizens, peers, bosses, and unique situations they encounter on the street. You will find this book to be an excellent guide in regard to dealing with these individuals and situations. The kinds of things that every supervisor or manager should know are in this book! Finally, as you're reading this book, always keep your ultimate goal in mind. Whether it's to get the promotion you want or to be a better supervisor or manager, never lose sight of it. If you're ready to become a leader, study hard and stay focused. If you're tired of doing what you're doing and want to move up the ladder, study hard and stay focused. If you study hard, stay focused, and internalize the teachings of this book, you will be that much closer to achieving your ultimate goal. I wish you all the best. William "Bill" Berger"--