Consumer Financial Protection Bureau’s Bank Examiners Slam New “Humility Pledge”

Agency insists firms must promise “collaborative” cooperation before any review

The Consumer Financial Protection Bureau (CFPB) has introduced a controversial requirement that financial institutions sign a “Humility Pledge” prior to any supervisory examination. The pledge obliges firms to “work collaboratively” with examiners, pledging openness and a willingness to address potential compliance gaps.

Bank examiners, however, have voiced strong criticism of the new policy. Many argue that the pledge is a symbolic gesture that does little to enhance actual oversight and may even hinder candid dialogue by creating a performative compliance environment.

According to senior examiners, the pledge’s language is vague and could be interpreted in multiple ways, making it difficult to enforce. “We need clear, actionable standards, not a blanket promise that sounds good on paper,” one examiner explained.

The CFPB maintains that the pledge is intended to foster a spirit of cooperation and reduce adversarial tensions that often arise during examinations. “A collaborative approach benefits both regulators and institutions,” a CFPB spokesperson said.

Industry groups have responded cautiously, acknowledging the intent but urging the bureau to provide concrete guidelines. “We welcome any effort that promotes transparency, but the pledge must be backed by measurable expectations,” a banking association representative noted.

As the debate continues, the CFPB has indicated it will monitor the pledge’s impact and consider adjustments based on feedback from both examiners and the institutions they oversee.