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CFPB’s 5-Year Plan Includes New Pilot for Supervisory Activities

The Consumer Financial Protection Bureau released its new five-year strategic plan on Monday that continues Acting Director Mick Mulvaney’s tone of deregulation and mentions a new pilot for supervisory activities.

Few details were given in the report other than the bureau’s supervision, enforcement, and fair lending divisions will pilot “a project to conduct supervisory activities to supplement the traditional examination process.” The CFPB was unable to respond by press time for clarification on the program.

More broadly, the report officially states what Mulvaney’s previous memos have signaled, which is that the CFPB will not “push the envelope” when it comes to enforcement.

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