This month the Consumer Financial Protection Bureau held an invitation-only teleconference and issued a press release announcing its "Early Warning Notice," which would allow banks the opportunity to respond to findings by the CFPB before commencing enforcement actions.  

That the CFPB thought it important enough to issue a press release announcing that it would adhere to the most basic due process tenet of bank regulation and law enforcement -- to allow the subject of an examination and/or investigation to explain its practices before filing an enforcement action -- raises serious fundamental concerns as to this new agency's intended approach to exercising its enormous regulatory and enforcement powers.  

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