Fed OIG Has Number of CFPB Audits Underway and in Planning
March 11, 2013
The Federal Reserve Board Office of Inspector General has added to its agenda eight new planned projects related to the CFPB, according to the OIGs current work plan, which was updated late last week. One of the new projects is an audit of the CFPB's civil penalty fund. We plan to audit the CFPBs use of the civil penalty funds associated with specific enforcement actions to assess the CFPBs controls surrounding the use of funds to ensure that the agency complies with applicable Dodd-Frank Act requirements, the OIG said in its...