Efficiently Manage CFPB Compliance

The CFPB requires supervised banks and nonbanks to manage their vendor relationships in a way that supports consumer safety and privacy. If yours is a supervised entity, that means you need to have effective processes for managing risk in your service provider relationships. ComplyScore is an automated solution that manages CFPB compliance from end-to-end, including:

  • Due diligence to verify your third-parties understand and are complying with their obligations under Federal consumer financial laws. This includes a review of relevant vendor policies, procedures, controls, and training materials.
  • Generate service provider contracts that specify expectations for compliance and consequences for violations.
  • Controls and monitoring to verify compliance, and a process for prompt action to remediate identified compliance failures.
Efficiently Manage CFPB Compliance

Why Is CFPB Compliance Necessary?

  • Your organization provides consumer financial services, or operates in close partnership with consumer financial businesses.
  • You want to support compliance with one or more enhanced data security standards, e.g. GDPR, PCI, HIPAA, etc.
  • The vendor has experienced a data breach, security incident, or information security performance discrepancies.
  • You require enhanced risk assessment services for your own compliance, reporting, or auditing requirements.
Why Is CFPB Compliance Necessary-2 Why Is CFPB Compliance Necessary-1

Gain Additional Value from Your TPRM Program

Consumer financial businesses have an added burden of mandatory requirements, including standards enforced by the Federal Consumer Financial Protection Bureau. Individual states are implementing their own similar standards and the sector is becoming more complex. ComplyScore can help you stay on top of your obligations and primed to compete in the evolving financial business marketplace.

Understand and Respond to Third-Party Risk

ComplyScore makes your TPRM program easier, more agile, and deliver increased value. Partner with us to make CFPB compliance an integral and efficient element in your overall TPRM program.

Valuable Insights

Valuable Insights

Gain a 360-degree view of your third-party CFPB compliance environment and make more informed and better risk decisions.

Manage Compliance

Manage Compliance

Engage a proactive, risk-focused solution that positions you to understand your risk, anticipate problems, and pivot quickly toward necessary adjustments.

New Opportunities

New Opportunities

Validating vendor CFPB compliance demonstrates market leadership, extends your reach to new customers, and unlocks valuable business opportunities.

CFPB Compliance Solution

CFPB Compliance Solution

ComplyScore can help you assess, manage, and report vendor compliance with CFPB. Let us bolster your security performance, meet your compliance obligations, and protect you against cyber risk.

Proactive, risk-based solution

Understand your CFPB-relevant risks

Make better security decisions

Derive added TPRM value

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