CFPB Solutions with CLARIFIRE® Technology
The Consumer Financial Protection Bureau (CFPB) continues to implement and enforce federal consumer financial
laws impacting banks, credit unions and other financial institutions. Since the CFPB's creation in 2012 under the Dodd-Frank
Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), the organization has issued extensive regulation,
supervisory guidance and enforcement actions against industry participants.
This environment has created significant stress on the financial services industry. Even the most diligent and conservative businesses have a difficult time keeping up with the extent of these changes. Contingencies on dated systems, newer less mature technology, and third party vendors can make transition and implementation of rules and regulation extremely complex.
Clarifire can provide you with the tools and services necessary to maximize existing systems and instill confidence in oversight of internal organizational processes. Clarifire's workflow solutions manage the functions that touch consumer protection regulations, including implementation of controls over customer communication, disclosure delivery, application documentation, closing and post-closing document management, servicing transfer, identity, and third-party affiliates.
In fact, our Loss Mitigation workflow process not only allows for managing all CFPB metrics directly from your dashboard, but is easily configurable to comply with regulatory changes as they occur.