Reiteration of Statement on Supervisory Practices Regarding Financial Institutions and Consumers Affected by a Major Disaster or Emergency
Updated 10/21/2021
This tool summarizes the CFPB’s Statement issued on September 14, 2018, addresses regulatory flexibilities available to institutions in certain disaster or emergency situations. The key takeaways are:
- The CFPB issued this statement in 2018 and reiterated the statement in 2021, in light of several emergency situations occurring throughout the nation.
- The Bureau will consider the circumstances of institutions facing a major disaster or an emergency in examinations and other supervisory activities where the institution made good faith efforts to meet regulatory requirements.
- The CFPB statement is non-binding on the Bureau.
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