4 Lessons From the CFPB s Supervisory Highlights Covid-19 Edition Published on: 10 February 2021 at 12:00 p.m. ET Feb. 10, 2021, noon Feb. 10, 2021, 8:56 a.m. insideARM.com The iA Institute
http://www.insidearm.com/news/00047054-supervisory-highlights-special-covid-19-e/
Covid created a need for the Bureau to measure and monitor real-time activity in a rapidly changing marketplace. The Bureau filled that need by initiating a new supervisory approach for gathering real-time information called Prioritized Assessments, which are “higher-level,” targeted inquires to companies perceived to have a greater potential for exposing consumers to risk due to the pandemic. Prioritized Assessments enabled the Bureau to obtain a lot of information from a wide range of entities quickly.