Volume 25 - Number 01
January 6, 2014
OIG Faults Bureau for Bringing Enforcement Attorneys to Exams
The Federal Reserve Board Office of Inspector General, as had been hinted at previously, issued a report last month critical of the CFPBs practice of bringing enforcement attorneys to regular examinations. Numerous industry representatives privately said it was having a chilling effect on lenders during the exam process. The bureau recently decided it would cease the practice, and some industry insiders suspected the OIGs then-pending report had a good bit to do with that decision. The OIG had already finished with the...
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