CFPB, Federal Agencies, State Agencies, and Attorneys General
The Office of Inspector General (OIG) for the CFPB and Fed has issued a report that found the CFPB can improve its practices related to examination workpaper documentation. This report follows another OIG report issued last month that found the CFPB could improve the effectiveness of its Examiner Commissioning and On-the-Job Training Programs.
The report…
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) Program. In conducting the evaluation, the OIG assessed the design, implementation, and execution of the two programs. The OIG found…
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…
The Office of Inspector General for the Fed and CFPB has completed a report setting forth its findings from an audit in which it evaluated “selected security controls for protecting the [CFPB’s] consumerfinance.gov website from compromise.” Instead of releasing the full report, the OIG only released an executive summary, stating that “given the sensitivity of…
The Office of Inspector General for the Fed and CFPB recently issued an audit report entitled “The CFPB Can Strengthen Contract Award Controls and Administrative Processes.” The objective of the OIG’s audit was to assess the CFPB’s compliance with applicable laws, regulations and CFPB policies and procedures related to contract solicitation, selection and…
The Office of Inspector General for the Fed and CFPB has issued a report on the results of an evaluation it conducted to determine whether the CFPB effectively mitigates the risk of potential conflicts of interest associated with using vendors to support fair lending supervision and enforcement. In addition to performing fair lending analysis internally,…
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…
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 Division which is responsible for maintaining the CFPB’s Consumer Complaint Database.
In a new report on…
In a new report on the CFPB’s hiring processes, the Office of Inspector General (OIG) for the Fed and CFPB found that the CFPB’s Office of Human Capital (OHC) did not always follow established hiring controls. For example, the OIG found that not all job analysis forms had evidence of managerial approval. According to the…
Since our last blog post about the OIG’s work plan, the work plan has been updated as of August 7, 2015 to add four new projects. A newly added ongoing project is a “Security Control Review of the CFPB’s SQL Environment.” (An SQL environment is a database management system.) The OIG’s specific audit objective is…
