The client had not previously been examined by the CFPB and was resource constrained due to an impending merger causing them to seek assistance from an experienced advisor to help prepare exam response materials.
Critically evaluated the examination request letter, identifying appropriate response materials. Took ownership for the assembly and refinement of key response deliverables in order to lessen client’s resource constraints.
A mid-sized bank was in the midst of preparing for an impending merger. Then they received a request letter for their first CFPB examination. The examination was of deposits, with a focus of Reg E and Reg DD.
The client contacted Bridgeforce for expertise in regulatory compliance and examination management, and to augment staff who were struggling to manage both day-to-day responsibilities and merger-related activities.
Specifically, Bridgeforce was engaged to:
Perform a comprehensive review of the entire response package and supporting detail before submission