Comments/Notes on Adjudication Structure:
It is CFPB's responsibility to enforce federal consumer financial law, which includes, among other things, the prohibition of unfair, deceptive, or abusive acts and practices in connection with consumer financial products and services. This adjudication scheme ensures and enforces compliance with such laws. The OAA hears formal charges and actions initiated by the CFPB based on alleged violations of federal statutes and regulations under the CFPB's jurisdiction.
An ALJ conducts a hearing and files a recommended decision. The recommended decision is sent to the Director and served upon the parties. Any party may file exceptions to the recommended decision within 10 days. Should neither party file exceptions, the Director will issue a final decision adopting the recommended decision, or order further briefing.