News & Analysis as of

Office of the Inspector General Federal Reserve Consumer Financial Protection Bureau (CFPB)

Paul Hastings LLP

Daily Financial Regulation Update -- Monday August 5, 2024

Paul Hastings LLP on

August 2, 2024- The Federal Reserve Board requested comment on a proposed rule that would establish data standards for certain information collections submitted to financial regulatory agencies....more

Orrick, Herrington & Sutcliffe LLP

OIG makes recommendations for CFPB’s examiner commissioning program

On May 15, the Office of Inspector General (OIG) for the Fed and CFPB published a report entitled “The CFPB Can Enhance Certain Aspects of Its Examiner Commissioning Program.” The report assessed the CFPB’s examiner...more

Orrick, Herrington & Sutcliffe LLP

OIG releases CFPB and Fed list of open recommendations

On April 22, the OIG, which oversees the CFPB and the Fed, released two audit and evaluation reports that noted previously identified recommendations to improve or correct issues that remain open as of March 31, including...more

Orrick, Herrington & Sutcliffe LLP

Fed’s OIG report on CFPB says training improvements needed to meet enforcement goals

Recently, the Office of Inspector General of the Federal Reserve Board released a report assessing the CFPB’s process for conducting enforcement investigations. ...more

Ballard Spahr LLP

OIG report finds CFPB can enhance certain aspects of its enforcement investigations process

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The Office of Inspector General (OIG) for the Federal Reserve Board and CFPB has issued a report on its evaluation of the CFPB’s process for conducting enforcement investigations.  OIG concluded that the CFPB can enhance...more

Paul Hastings LLP

Daily Financial Regulation Update -- Tuesday, December 13, 2022

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December 12, 2022- The Consumer Financial Protection Bureau (CFPB) proposed requiring certain nonbank financial firms to register with the CFPB when they become subject to certain local, state, or federal consumer financial...more

Ballard Spahr LLP

OIG report finds effectiveness of CFPB’s examiner commissioning and training programs could be improved

Ballard Spahr LLP on

The Office of Inspector General (OIG) for the CFPB and Fed has issued a report on the results of its evaluation of the effectiveness of the CFPB’s Examiner Commissioning Program (ECP) and On-the-Job Training (OJT) programs. ...more

Ballard Spahr LLP

CFPB “Can Improve” Recordkeeping and Notifications of Purpose in Civil Investigative Demands, OIG Finds

Ballard Spahr LLP on

On September 20, 2017, the Federal Reserve’s Office of Inspector General (“OIG”) issued a report on the CFPB’s process for issuing Civil Investigative Demands (“CID”). The OIG found that the CFPB “generally complied” with...more

Morrison & Foerster LLP

Financial Services Report, Winter 2016

EDITOR’S NOTE - Hope you survived all of those awkward Thanksgiving holiday conversations— amazing how divided people are on whether the court got it right in the PHH case, isn’t it? So on we go into the holiday season,...more

King & Spalding

Federal Reserve Board’s OIG Issues Reports Highlighting The Importance of Cybersecurity

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In two reports issued on September 29, 2016, the Federal Reserve’s Office of Inspector General (“OIG”) discussed major management challenges facing the Federal Reserve Board (the “Board”) and the Consumer Financial Protection...more

Ballard Spahr LLP

OIG identifies areas to improve accuracy in Consumer Complaint Database

Ballard Spahr LLP on

I am delighted to be writing my first blog post for the CFPB Monitor as a new member of Ballard Spahr’s Consumer Financial Services Group. Before joining the Group, I served as an investigator in the CFPB’s Consumer Response...more

Stinson - Corporate & Securities Law Blog

OIG Outlines Major CFPB Management Challenges

The Office of Inspector General, or OIG, of the Board of Governors of the Federal Reserve System has issued its first listing of major management challenges facing the CFPB. These challenges represent what OIG believes to be...more

Ballard Spahr LLP

OIG updated work plan adds focus to information security, compensation, and distribution of civil penalty funds

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The most notable items added by the Office of Inspector General (OIG) to its work plan, updated as of July 7, 2014, are audits of the CFPB’s information security program, pay and compensation program, and distribution of...more

Ballard Spahr LLP

OIG updated work plan delays completion dates

Ballard Spahr LLP on

In its work plan updated as of January 21, 2014, the Office of Inspector General (OIG) for the Fed and CFPB has pushed back until this year the expected completion dates for several CFPB projects previously slated for...more

Ballard Spahr LLP

OIG provides update on CFPB projects

Ballard Spahr LLP on

The updated work plan as of August 30, 2013 of the Office of Inspector General (OIG) for the Fed and CFPB describes various CFPB projects that are “in progress” or “planned.”...more

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