The ombudsman’s midyear update includes an overview of a pending survey of entities supervised by the CFPB and work with external stakeholders.
8/13/2020 13:00
Consumer Financial Protection Bureau Ombudsman Wendy Kamenshine issued the office’s 2020 Midyear Update outlining the bureau’s response to helping consumers during the COVID-19 pandemic and consideration of a post-examination survey for supervised entities, among other topics.
This year’s edition also includes an overview of translated CFPB blog posts, assistance for people with disabilities during COVID-19 and submission of small business lending discrimination complaints.
The ombudsman’s office is considering whether to include a post-examination survey of CFPB supervised entities as part of its work. The office decided to first conduct a beta test of a post-examination survey and will provide additional information in the coming months, according to the report.
During the COVID-19 pandemic, the ombudsman’s office adapted its outreach to all virtual engagements. The outreach includes an Ombudsman On-the-Go Teleconnect Series as well as virtual office hours and speaking engagements.
The ombudsman’s office will also continue to host forums involving stakeholders. Topics will include engagement, guidance, regulations and compliance and coordination with government entities. The office plans to offer external stakeholders an opportunity to provide feedback on these themes to share in an unattributed format with the CFPB, according to the report.
The role of the ombudsman’s office is to provide independent, impartial and confidential resources for consumers, banks and nonbanks in resolving issues with the bureau. In that role, it also makes recommendations to the bureau.
The ombudsman’s office will release its complete annual report toward the end of the year with more details on these topics as well as summaries of its forum and interactive meetings.
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