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Thursday, March 21, 2013

10:00 a.m. -


Michael J. Dougherty, Partner, WELTMAN, WEINBERG & REIS, CO.

2012 was a year of much change and uncertainty in the industry. The question of who the CFPB would determine to be a “supervised entity” and “supervised service provider” was at the forefront of all discussions. The CFPB has put an end to that uncertainty and set forth rules in 2012 as to who would be under their direct enforcement authority. Now that we know who is being supervised, 2013 brings up the question of how do we prepare for that supervision, and in particular, how do we prepare for the CFPB audit.

This presentation will focus on the pre-audit steps that need to be taken to put your business in the best position to effectively handle a CFPB audit. Policy review and implementation, consumer complaint databases, and management supervision are just some of the issues that an effective compliance department must address when preparing for the CFPB audit. We will take you step by step through the process of preparing for the audit and then give you guidance on how best to handle the audit. The uncertainty of 2012 has been replaced by the challenges of 2013 and the more preparation you take, the better prepared you will be for the CFPB audit.

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