Since our last blog post about the Office of Inspector General’s work plan for the CFPB, the work plan has been updated as of July 1, 2017 to add one new planned project.
The newly-added project is an “Evaluation of the Office of Consumer Response’s Efforts to Share Complaint Data Within the CFPB.” The plan states that the Office of Consumer Response is responsible for sharing complaint data with internal stakeholders to help the CFPB’s supervisory, enforcement and rulemaking activities. It adds that “the successful use of complaint data can help the CFPB understand the problems consumers are experiencing in the financial marketplace and identify and stop unfair practices before they become major issues.”
The OIG evaluation will examine the extent to which Consumer Response is achieving its objective to share useful complaint data and analysis with internal stakeholders, and Consumer Responses controls over access and distribution of shared complaint data.
