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Volume 25 - Number 22

October 27, 2014

OIG Has High-Profile CFPB Audits Underway, Including HQ Rehab

The CFPBs Office of Inspector General has a handful of high-profile audits or reviews of the CFPB underway, including audits of the bureaus controversial headquarters renovation costs and its public consumer complaint database. In June 2014, the OIG completed a review and issued a letter report in response to a request from Rep. Patrick McHenry, R-NC, the chairman of the House Financial Services Subcommittee on Oversight and Investigations, regarding the CFPBs headquarters renovation budget. As a follow-on to this work, we are evaluating the reasonableness of the overall estimated and proposed costs for the CFPBs headquarters renovation, the OIG said in its latest work plan. We will also assess the effectiveness of the CFPBs processes and controls for approving, managing ...

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