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CFPB revises internal supervisory appeals process

The Consumer Financial Protection Bureau issued a new rule revising its internal supervisory appeals process for institutions seeking to appeal a compliance rating or an adverse material finding.

The updated process expands the eligibility criteria for members of the appeals committee, allowing any CFPB manager with relevant expertise on the issue raised. Additionally, the revised process introduces a new option for resolving appeals and includes additional clarifying changes. See the CFPB's published document here.

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