The total price tag for the renovation of the CFPB's leased headquarters is currently $215.8 million, representing an increase of $120 million from last year's evaluation, according to a recently released Federal Reserve Inspector General's report.
The IG report also said the CFPB's Investment Review Board did not follow all internal guidelines for approval of the renovation.
"We noted that the $55 million and $95 million budget amounts for the renovation for fiscal year (FY) 2012 and FY 2013, respectively, were published in the CFPB's public budget documents. Approvals through decision memorandums were obtained for these amounts," said the Fed's IG report dated July 2.
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