CFPB spokesman Sam Gilford responded Thursday to reports an examiner told Congress bureau officials promoted results-oriented exams, saying the bureau's Office of the Inspector General conducted a year-long review of its supervision program, reporting its findings and recommendations in March.
"The report, based on information as of July 31, 2013 acknowledges the Bureau's significant progress in developing our supervision program since launching in July 2011, and lays out recommendations for improvement. The Bureau has made substantial progress in addressing and implementing those recommendations," Gilford said.
CFPB examiner Ali Naraghi told a congressional subcommittee Wednesday the bureau's enforcement lawyers discussed plans to bring actions against regulated entities prior to examiners finishing their work or even discovering a violation.
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