Earlier this month, the Bureau released its Summer 2019 edition of Supervisory Highlights. This is the second edition issued under Bureau Director Kathy Kraninger, who was confirmed to a five-year term in December 2018. The report covers examinations that were generally completed between December 2018 and March 2019 and, as such, is the first edition of Supervisory Highlights to cover examination activities that occurred during Kraninger’s tenure as Director. This edition is much the same as previous editions, but unlike many past versions, it does not address any mortgage servicing-related findings. Instead the report focuses on, among other things, UDAAPs (including, notably, an abusiveness finding), furnishing of consumer report information, and technical regulatory violations. The report also details supervision program developments.
Remarkably, there is no mention of any public enforcement action resulting from supervisory examination work. It is standard practice for the Bureau to use these reports to tout both public and nonpublic remedial actions that stemmed from examinations—but here we don’t see that, and it is not clear whether that is because none of the enforcement actions the Bureau has taken as of late actually came out of supervisory exams or if they chose not to highlight remedial actions for some other reason.