Office of Inspector General for the Board and CFPB Reports from the OIG for the Federal Reserve Board of Governors and the Consumer Financial Protection Bureau
-
Strengthening Organizational Governance
on February 14, 2019 at 3:00 pm
Organizational governance involves processes and structures for decisionmaking, accountability, controls, and behaviors designed to accomplish an organization’s objectives. A strong governance system can enable an organization to achieve its objectives […]
-
The Bureau Can Improve Its Follow-Up Process for Matters Requiring Attention at Supervised Institutions
on January 31, 2019 at 3:00 pm
During examinations of supervised institutions, the Bureau may issue corrective actions to address violations of federal consumer financial laws or regulations, compliance program deficiencies, or control weaknesses. We assessed the Bureau’s . . . […]
-
OIG Work Plan (Current as of January 1, 2019)
on January 14, 2019 at 3:00 pm
The Work Plan presents the audits and evaluations we are conducting to help the Board and the Bureau fulfill their respective missions. […]
-
Court Sentences Former Wilmington Trust Chief Credit Officer and Controller to Imprisonment
on December 21, 2018 at 3:00 pm
David C. Weiss, United States Attorney for the District of Delaware, announced today that Hon. Richard G. Andrews sentenced former Wilmington Trust Chief Credit Officer William North, age 59, to 54 months’ imprisonment and a $100,000.00 fine . . . […]
-
The Board Can Strengthen Controls Over Its Academic Assistance Program
on December 17, 2018 at 7:00 pm
The Board’s academic assistance program is intended to support qualified employees’ development and career progression. We assessed the Board’s internal controls to ensure that employees receive financial assistance in accordance with agency policy . . . […]
-
Bureau Purchase Card Program Controls Appear to Be Operating Effectively
on December 17, 2018 at 3:00 pm
The Bureau’s purchase card program supports its procurement needs and reduces the administrative cost of purchasing small-dollar items. From April 1, 2017, through June 30, 2018, cardholders made about 4,200 transactions totaling $2.7 million. We . . . […]
-
The Board’s Currency Shipment Process Is Generally Effective but Can Be Enhanced to Gain Efficiencies and to Improve Contract Administration
on December 6, 2018 at 3:00 pm
As the issuing authority for Federal Reserve notes, the Board forecasts the demand for currency and plans and executes the issuance of currency to the Federal Reserve Banks, which then fulfill currency orders from depository institutions. To carry . . . […]
-
Semiannual Report to Congress, April 1, 2018–September 30, 2018
on December 4, 2018 at 3:00 pm
Summary of significant audit, evaluation, and investigative work concerning the Board of Governors of the Federal Reserve System and the Bureau of Consumer Financial Protection we completed from April 1, 2018, through September 30, 2018. […]
-
Fred W. Gibson, Jr., Selected Deputy Inspector General
on November 26, 2018 at 3:00 pm
Washington, DC—Fred W. Gibson, Jr., has been selected as Deputy Inspector General of the Office of Inspector General (OIG) for the Board of Governors of the Federal Reserve System (Board) and the Bureau of Consumer Financial Protection (Bureau) . . . […]
-
Manhattan U.S. Attorney Announces Criminal Charges Against Societe Generale S.A. for Violations of the Trading With the Enemy Act
on November 19, 2018 at 9:00 pm
Charges to be deferred for three years under an agreement in which Societe Generale admitted its conduct. Bank to pay total penalties of more than $1.3 billion as part of resolution with federal and state prosecutors and regulators . . . […]
-
Evaluation of the Board’s Implementation of Splunk
on November 8, 2018 at 7:00 pm
Splunk is the Board’s primary security information and event management application. We evaluated the Board’s implementation of the application in accordance with security best practices. Overall, we found the Board implemented Splunk in line with . . . […]
-
The Board Can Strengthen Information Technology Governance
on November 8, 2018 at 3:00 pm
The effectiveness of the Board’s information security program hinges on enterprisewide visibility into its IT operations. We assessed whether the Board’s organizational structure and authorities support its IT needs. We found that the Board’s . . . […]
