OIG’s first priority: Evaluating CFPB’s examination approach

The Federal Reserve’s Office of Inspector General updated its Work Plan to put the Consumer Financial Protection Bureau’s approach to examinations of banking and nonbanking institution’s compliance at the top of its priority list. Industry participants have decried the CFPB approach and the U.S. Chamber of Commerce recently called for changes to the supervision and regulatory processes. Read on to learn what the OIG will specifically address.