Volume 25 - Number 6
March 17, 2014
Assessments to Fund CFPB Rise 46 Percent, Employee Bennies Jump
Assessments levied on the Federal Reserve Banks for the CFPB came to $563.2 million for calendar-year 2013, up from $385.2 million for 2012, an increase of 46.2 percent, according to a new report from the Fed Office of Inspector General. The assessments are based on each Reserve Bank’s capital and surplus balances. Also, the bureau transferred to the Fed funding for the operations of the OIG in the amounts of $10 million and $3 million in 2013 and 2012, respectively. “Beginning in 2014, the bureau’s funding share of OIG operations will be adjusted based on actual OIG expenses and work allocation from the previous year,” the report said.
Subscribers to Inside the CFPB have full access to all its stories and data online. Visitors may become subscribers for full access or may purchase individual articles and data.
Subscriber Log In
If you are a current subscriber or already purchased this article, please login below.
This biweekly keeps mortgage executives on top of the onslaught of new legal and regulatory issues the industry has been seeing.
You can purchase this article for $55.00 without subscribing and always have access to it on insidemortgagefinance.com.
Please contact Customer Service if you need assistance: 1-800-570-5744