Congress should consider whether additional changes to the federal financial regulatory structure are needed to reduce or better manage fragmentation and overlap in the oversight of financial institutions and activities to improve the consistency of consumer protections, according to a new report from the Government Accountability Office. “For example, Congress could consider ... transferring the remaining prudential regulators’ consumer protection authorities over large depository institutions to the CFPB ... among other considerations,” the report stated. One of the concerns GAO raised is that a federal financial regulatory system with multiple regulators can result in inefficient and inconsistent safety and soundness and consumer protection oversight, with negative consequences for industry players. “While Congress addressed some of our concerns through consolidating rulemaking ...