Banks are working with the Consumer Financial Protection Bureau to ease tensions and convey their concerns more directly, The Wall Street Journal reports.
Compliance executives from more than 20 banks have been meeting privately with the CFPB to address concerns and issues. Executives who feel their companies are not getting enough credit for cooperating with investigations are among those in attendance.
Last week, the CFPB provided the industry with guidance by releasing a bulletin explaining how banks should respond to an investigation.
According to the article, the publication was a pivotal moment in the industry's relationship with the regulator.