FFIEC Advances Exam-Reform Initiative
Completing the final phase of its Examination-Modernization Project, the FFIEC late last week issued best practices for requesting examination information from supervised entities. Best practices include requesting only risk-focused and relevant information, giving institutions sufficient time, and examiner coordination to avoid duplicative and/or redundant requests.
CFPB Seeks Comment on BNPL
The CFPB’s inquiry into buy-now/pay-later (BNPL) providers along with questions for public comment were posted in today’s Register.