Jonathan L. Pompan, partner and co-chair of the Consumer Financial Services Practice Group, and partner, Alexandra Megaris, authored "Inside Tips for Demonstrating Compliance and Navigating CFPB Examinations" in the Fall 2017 issue of RMAI Insights Magazine, the official magazine of the Receivables Management Association International. Here's an excerpt:
"Navigating a government examination requires more foresight and vigilance than ever. Between the inception of the Consumer Financial Protection Bureau (CFPB) and heightened scrutiny from state and local regulators, it is no secret that regulatory expectations have increased exponentially over the past several years. Furthermore, even companies that are RMA certified and accustomed to government oversight can find supervisory interactions with federal and state regulators, particularly with CFPB, to be opaque and confusing. As a result, members of the receivables management industry must be careful when navigating an examination."