How Would Your Service Providers Hold Up to a CFPB Examination? (You Have a Vested Interest)
The CFPB has begun to examine service providers on a regular, systematic basis. In the past, it has been only on an ad hoc basis. Your financial institution has a vested interest in how its service providers would fare under such scrutiny, as the CFPB's position is that banks supervised by the CFPB can be vicariously liable for violations committed by their service providers. [4/14/17]


