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Friday, November 16, 2012

Financial Report of the CFPB – Fiscal Year 2012

The CFPB has released the Financial Report of the CFPB – Fiscal Year 2012. The report includes a management’s discussion and analysis of the bureau as well as the CFPB’s financial statements.

On the growth of the CFPB the report states:
Since its inception the CFPB has grown in the number of employees and the corresponding funding needed to carry out its duties and responsibilities. At the end of fiscal year 2012, the CFPB was still below the full employment levels and funding it estimates for its steady state in future years.
In the fourth quarter of the fiscal year 2012 the CFPB filled 970 positions compared to 663 positions filled in the fourth quarter of the fiscal year 2011.

As of September 30, 2012, 47% of the CFPB positions were in supervision, enforcement, and fair lending areas; 9% were in research, markets, and regulations areas; and 4.5% were in the legal division area.

During the fiscal year 2012 the CFPB requested total fund transfers of $343.3 million from the Federal Reserve Board compared to the $161.8 million requested in the fiscal year 2011.

Read the report.

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