Insights
Client Alert
CFPB Makes the Case for Supervisory Examination Privilege
January 19, 2012
BY KEVIN L. PETRASIC & MICHAEL A. HERTZBERG
This Stay Current discusses issues related to the CFPB's release of Bulletin 12-01, which addresses the treatment and scope of confidentiality protections accorded information collected from supervised institutions through the CFPBs supervisory process. The bulletin addresses two specific parts of the CFPBs policy on confidential information. First, it provides that institutions providing privileged information to the CFPB pursuant to a supervisory request will not waive any privilege that attaches to such information. Second, the bulletin indicates the CFPB will treat information obtained through the supervisory process as confidential and privileged.