Alert January 10, 2013

CFPB Realigns Office of Supervision

The CFPB announced that it has reorganized the Office of Supervision staff and offices. The Office of Supervision was previously organized into two offices—the Office of Nonbank Supervision and the Office of Large Bank Supervision—but will now be organized into the Office of Supervision Examinations and the Office of Supervision Policy. The Office of Supervision Examinations will plan and execute examinations and ensure policies and procedures are followed, and the Office of Supervision Policy will ensure that the CFPB’s supervision policy is consistent with the law and the CFPB’s mission, and across products, charters, and regions.