The Office of the Inspector General for the CFPB has released the agency’s current Work Plan as of January 1, 2017. In addition to previously announced projects, the bureau has initiated an evaluation of the CFPB’s use of vendors to support analysis of fair lending compliance for the first quarter of 2017.
Among other responsibilities, the CFPB is charged with providing oversight and enforcement of federal laws intended to ensure the fair, equitable and nondiscriminatory access to credit. The agency relies on external vendors to help fulfill this responsibility. The objective of the new project is to assess whether the CFPB effectively mitigates the risk associated with the use of vendors to support fair lending analysis, particularly with respect to potential conflicts of interest.
Read the full work plan.