The CFPB can do a better job with its contract management processes and related controls, the Office of Inspector General (OIG) for the Federal Reserve and CFPB said in a new report. One problem detected was that certain payments did not conform to federal guidelines. “In general, we found the CFPB to be in compliance with applicable laws, regulations and CFPB policies and procedures, although we noted that certain contract management controls could have been improved in three contracts among the 29 contracts in our sample,” the report stated. The three contracts represented $6.2 million out of the OIG sample’s total value of $166 million. “In the first contract, the CFPB made payments that did not conform to the contract ...