News & Analysis as of

Office of the Inspector General Financial Services Industry

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

CFPB limits examiner term limits to five years after concurring with OIG recommendations

On February 26, the Office of Inspector General for the CFPB (OIG) released a report entitled, “The CFPB Can Enhance Certain Practices to Mitigate the Risk of Conflicts of Interest for Division of Supervision, Enforcement and...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 -- 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

Ballard Spahr LLP

HUD OIG Again Takes Issue with Mortgage Servicer Websites Addressing CARES Act

Ballard Spahr LLP on

As previously reported, in April 2020 the U.S. Department of Housing and Urban Development Office of Inspector General (HUD OIG) issued a statement criticizing how mortgage servicer websites were providing information on the...more

Ballard Spahr LLP

HUD OIG Takes Issue with Mortgage Servicer Websites Addressing CARES Act

Ballard Spahr LLP on

The U.S. Department of Housing and Urban Development Office of Inspector General (HUD OIG) issued a statement dated April 27, 2020, that is not complimentary about how mortgage servicer websites are providing information on...more

Manatt, Phelps & Phillips, LLP

CFPB News: New Rules, AG Overdraft Comments, OIG Report

The Consumer Financial Protection Bureau (CFPB or Bureau) turned its focus to rulemaking, with the Bureau issuing a final rule amending Regulation CC and extending the comment period on the advanced notice of proposed...more

Ballard Spahr LLP

OIG report looks at CFPB internal sharing of complaint data

Ballard Spahr LLP on

The Office of Inspector General for the CFPB (and the Fed) recently issued a report on its evaluation of the Office of Consumer Response’s sharing of complaint data within the CFPB. ...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

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

Ballard Spahr LLP

OIG report finds CFPB can strengthen conflict of interest controls related to vendor activities

Ballard Spahr LLP on

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...more

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