CFPB, Federal Agencies, State Agencies, and Attorneys General
The Office of Inspector General for the Fed and CFPB has issued a report on the results of its audit of the CFPB’s process for identifying victims eligible to receive compensation from the Consumer Financial Civil Penalty Fund (CPF).
Section 1017 of the Dodd-Frank Act requires the CFPB to deposit in the CPF the civil penalties it collects in enforcement actions. … Continue Reading
In its work plan updated as of March 27, 2015, the Office of Inspector General (OIG) has moved back the estimated completion dates of several ongoing projects previously estimated to be completed in the first quarter of 2015. Those projects, which include an audit of the CFPB’s headquarters renovation and an audit of the CFPB’s public consumer complaint database, now have an estimated completion date of second quarter 2015.… Continue Reading
The Office of Inspector General (OIG) has added a new ongoing CFPB project to its work plan updated as of March 13, 2015. The OIG is auditing the CFPB’s compliance with the Improper Payments Information Act of 2002, as amended by the Improper Payments Elimination and Recovery Act of 2010 and the Improper Payments Elimination and Recovery Improvement Act of 2012.… Continue Reading
The Office of Inspector General’s (OIG) work plan, updated as of November 7, 2014, indicates that the OIG’s ongoing projects include audits of the CFPB’s information security program, pay and compensation program, distribution of civil penalty funds, public consumer complaint database and headquarters renovation costs. Such projects also include an evaluation of the CFPB’s hiring process.… Continue Reading
The Congressional Budget Office has issued an estimate of the costs associated with the Inspector General Reform Act of 2013 (H.R. 3770). The bill would direct the President to appoint an Inspector General (IG) for the CFPB within 60 days of enactment who would be subject to Senate confirmation. … Continue Reading
The CFPB’s headquarters renovations is now the subject of two ongoing projects of the Office of Inspector General (OIG), according to the OIG’s updated work plan as of July 25, 2014.
As the OIG indicates in the work plan, it issued a letter in June 2014 reporting the results of its evaluation of the CFPB’s renovation budget. … Continue Reading
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.”
The projects listed as “work in progress” items include:
Republican Senator Rob Portman, together with ten other Republican Senators, has introduced a bill (S. 1310) titled the “Bureau of Consumer Financial Protection-Inspector General Reform Act of 2013.” The bill would amend the Inspector General Act of 1978 to create a separate Inspector General (IG) for the CFPB who would be subject to Senate confirmation. … Continue Reading
