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January 28, 2015
CFPB details treatment of confidential supervisory info
CFPB issued a supervisory bulletin Wednesday highlighting existing regulation on what information counts as confidential supervisory information (CSI) and how depository institutions must treat it under the Dodd-Frank Act.
CFPB noted in the bulletin that examples of CSI include CFPB examination reports and supervisory letters, an institution's supervisory compliance rating and communication regarding CFPB examinations or supervisory activity. The bulletin emphasized that non-disclosure agreements with third parties do not supersede CSI obligations to share information with supervisory agencies.
The bulletin also explained that CSI disclosure is permitted when a financial institution is communicating with its affiliates, directors, officers, members, employees, legal counsel, and in other similar relationships.
CFPB noted in the bulletin that examples of CSI include CFPB examination reports and supervisory letters, an institution's supervisory compliance rating and communication regarding CFPB examinations or supervisory activity. The bulletin emphasized that non-disclosure agreements with third parties do not supersede CSI obligations to share information with supervisory agencies.
The bulletin also explained that CSI disclosure is permitted when a financial institution is communicating with its affiliates, directors, officers, members, employees, legal counsel, and in other similar relationships.
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