The CFPB faces major management challenges that could hamper its ability to accomplish its strategic objectives if they are not properly addressed, according to the Federal Reserve's Office of the Inspector General.
The OIG said the CFPB must improve the operational efficiency of its supervision program.
“While we recognize the considerable efforts associated with the initial development and implementation of the program, we believe that the CFPB can improve the efficiency and effectiveness of its supervisory activities,” the Sept. 30 report said.
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