News & Analysis as of

Office of the Inspector General Financial Institutions

Orrick, Herrington & Sutcliffe LLP

FDIC’s crypto risk oversight criticized in OIG report

On October 18, the FDIC Office of Inspector General released a report on the FDIC’s strategies addressing the risks posed by crypto assets. According to the report, the FDIC has started to develop and implement strategies...more

King & Spalding

OIG Issues Favorable Advisory Opinion Involving an Arrangement With 0% Financing Options for a DME Manufacturer’s Customers

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On June 17, 2022, OIG issued a favorable advisory opinion allowing involving an arrangement in which a durable medical equipment (DME) manufacturer makes zero-interest financing available to its customers. The advisory...more

Harris Beach PLLC

OIG Decides Not to Impose Sanctions on Medical-Equipment Manufacturer in Financial Arrangement

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Department of Health and Human Services Office of Inspector General (“OIG”) Advisory Opinion 22-13 Issued: June 23, 2022 This opinion addresses a durable medical equipment (“DME”) manufacturer’s arrangements with...more

Bass, Berry & Sims PLC

OIG Approves DME Manufacturer Loan Program in Latest Advisory Opinion

Bass, Berry & Sims PLC on

On June 23, the Office of Inspector General (OIG) for the U.S. Department of Health and Human Services published Advisory Opinion 22-13, approving an arrangement under which a durable medical equipment (DME) manufacturer...more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday, May 27, 2022

Paul Hastings LLP on

Congress- U.S. House of Representatives- Committee on Financial Services- Hearing: Digital Assets and the Future of Finance: Examining the Benefits and Risks of a U.S. Central Bank Digital Currency-...more

K&L Gates LLP

COVID-19: Financial Institutions and Loan Recipients Will See Increased Congressional and Inspector General Investigations on...

K&L Gates LLP on

The economic response to the pandemic will continue to generate significant investigative scrutiny by Congress, inspectors general, and law enforcement—likely for years to come. The House Select Subcommittee on the...more

Ballard Spahr LLP

Updated OIG work plan for CFPB adds new project on sharing complaint data

Ballard Spahr LLP on

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....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

Down Payment Assistance Stand-Off between HUD and the Inspector General Clouds the Waters

Ballard Spahr LLP on

The HUD Office of Inspector General (OIG) released an audit on July 9, 2015, in which it opined that loans that included down payment assistance programs from state housing agencies ran afoul of HUD regulations. (OIG Report...more

Ballard Spahr LLP

CFPB Information Security Remains a Challenge

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The Office of the Inspector General (OIG) has released the “2015 list of major management challenges” faced by the CFPB that the OIG believes will hamper the CFPB’s ability to accomplish the CFPB’s strategic objectives. Like...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

Carlton Fields

2015 Florida Legislative Post-Session Report

Carlton Fields on

Carlton Fields Jorden Burt’s Government Law and Consulting Practice Group released its 2015 Florida Legislative Post-Session Report detailing significant bills that passed during the 2015 Regular Session of the Florida...more

Ballard Spahr LLP

OIG seeks improved CFPB approach for notifying prudential regulators of violations by smaller financial institutions

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The Office of Inspector General for the Fed/CFPB has sent a memorandum to the CFPB, the subject of which is “The CFPB Can Enhance Its Process for Notifying Prudential Regulators of Potential Material Violations.” The memo...more

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