This story appeared in Bank Digest.
The Office of Inspector General for the Federal Reserve Board and the Consumer Financial Protection Bureau has issued its "Semiannual Report to Congress," covering the period of Oct. 1, 2017, through March 31, 2018. During this period, the OIG issued seven reports related to the Fed's programs, covering a broad range of topics, and five reports on the CFPB's operations, which were mainly focused on information technology and related security efforts, according to Inspector General Mark Bialek.
During the period covered by the report, the OIG also released its first OIG Insights paper, which was based on an evaluation the OIG conducted regarding employees' willingness to share their views about large financial institution supervision activities. The paper addressed the causes of employees' reticence to share their views with leaders and identified best practices that leaders can follow to increase employees' willingness to share these views.
In addition, Bialek said the OIG's Office of Investigations pursued bank fraud, particularly by senior bank executives, and other cases involving the supervision programs of both agencies, as well as cases related to the agencies' internal operations.