News & Analysis as of

Banking Sector Financial Services Industry Office of the Inspector General

Orrick, Herrington & Sutcliffe LLP

FDIC OIG responds to senators’ letter on FDIC bank examiners

On February 19, the Office of Inspector General (OIG) for the FDIC responded to a letter from Sen. Elizabeth Warren (D-MA) and others concerning the FDIC’s decision to rescind over 200 jobs for bank examiners. As previously...more

Orrick, Herrington & Sutcliffe LLP

OIG satisfied with CFPB information security program, provides recommendations

On October 31, OIG for the Fed and the CFPB published its 2024 Audit of the CFPB’s Information Security Program, reporting that the CFPB’s information security program operates effectively at a level-4 (managed and...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

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

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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