CFPB Eyes Constrained Bank Exams as Part of ‘Humility’ Pledge

The Consumer Financial Protection Bureau is making its bank examiners recite a “humility in supervisions” pledge before inspecting regulated companies, suggesting the agency may be resuming some of its work even though it claims to be running out of money.

The CFPB is making changes to its examination process to avoid what the Trump administration described as “weaponized” supervision under former Director Rohit Chopra, a Biden appointee, and Lorelai Salas, the agency’s former supervision director, according to a Friday statement.

“Where these exams were previously done with unnecessary personnel, outrageous travel expenses, and with the thuggery pervasive in prior leadership, ...