TopMortgage Compliance Update (1)

October 23, 2012  


CFPB's Five Year Strategic Plan

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Recently, the Consumer Financial Protection Bureau (CFPB) published for comment on its website its draft Strategic Plan for 2013 - 2018 (Plan).

According to the CFPB, the plan includes the following four goals:

(1) Prevent financial harm to consumers while promoting good practices that benefit them.

(2) Empower consumers to live better financial lives.

(3) Inform the public, policymakers, and the CFPB's own policymaking with data-driven analysis of consumer finance markets and consumer behavior.

(4) Advance the CFPB's performance by maximizing resource productivity and enhancing impact. For each goal, the plan identifies outcomes to be achieved and how progress will be measured.

Submit comments to before October 25, 2012.

Jonathan Foxx
President & Managing Director
Lenders Compliance Group

Goals, Strategies, and Metrics
Goal 1: Prevent Financial Harm to Consumers
Goal 2: Empower Consumers to Live Better Financial Lives
Goal 3: Inform The Public
Chart: Data Sources and Data Outputs
Goal 4: Maximizing Resources and Impact


  Goals, Strategies, and Metrics
The Plan outlines these goals, strategies, and metrics:

- Strategic goals that outline what the CFPB aims to achieve.

- Desired outcomes in support of its goals.

- Strategies that state the actions the CFPB will take to accomplish our outcomes.

- Performance measures that CFPB will track against specific targets in order to assess its progress toward achieving its outcomes.

- Indicators that the CFPB will track and use to assess progress toward achieving our outcomes. (Unlike performance measures, indicators do not reflect targets.) 
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Strategic Plan 2013 - 2018
Draft for Public Comment
September 25, 2012
Consumer Financial Protection Bureau

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This communication is sent to our valued clients and colleagues, who regularly receive our Mortgage Compliance Updates, Compliance Alerts, Commentaries, and related publications.

These publications are free to subscribers. Information contained herein is not intended to be and is not a source of legal advice.

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