The CFPB has released its Summer 2013 Supervisory Highlights report and in it the agency slams banking (and non-banking) institutions for a lack of good compliance management systems.

Some of the problems the CFPB encountered at mortgage servicers in its research were: “sloppy account transfers” that can cause consumers to miss payments; “poor payment processing” including delays in handing the cancellation of private mortgage insurance payments; and “loss mitigation mistakes.”

The report has equally unflattering comments about non-banking institutions – “Among the issues those financial services companies faced were a complete lack of formal policies and procedures and the absence of a comprehensive consumer compliance program.”