OIG Disputes Assertion it Lacks Authority Related to Bureau
October 21, 2013
The Federal Reserve Office of Inspector General, which also serves as the IG for the CFPB, took the unusual step of entering a public policy debate and challenged the assertion by the Bipartisan Policy Center that it doesnt have adequate investigative and reporting powers related to the bureau. In its recent report on the CFPB, the center and its Task Force on Consumer Protection said, The bureau should have all of the other trademarks of accountability that independent bank regulators share. The Dodd-Frank Act contains...