The CFPB‘s 2015 Fiscal Report touted the agency’s achievements over the past year with a reported grade of 100% on the 12 metrics available prior to publication. However, the bureau’s strategic plan called for a complete analysis of 28 performance measures; the remaining 16 metrics were not detailed.
In the Nov. 16 report, the CFPB explained the remaining performance measures were unavailable in time for publication, but said it expected the results to be available for release in 2016. Some performance measures not included in the report pertained to the agency’s budget, including full time equivalent employee goals. Additionally, the bureau is slated to provide a five-year assessment of the agency’s rules, but the first assessment is not due until 2018.
The 12 metrics were spread across four strategic goals, each of which met or exceeded expectations for the 2015 fiscal year. As one example of a measure in the report, the agency had a goal to complete rulemaking within nine months after the end of a comment period; it scored 86% for 2015, a decline from 2014′s actual goal of 100%.
In addition, the CFPB successfully settled on all 56 cases filed by the agency for 2015.
In the report, Director Richard Cordray said credit union lending grew at a faster pace than community bank lending, and credit union memberships grew at a faster rate during the previous year than it did during the previous 20 years.
The report also said U.S and foreign services sectors “will evolve to address different and ever-changing implications based on their programs, unique business mixes and organizational structures.” The impact of the CFPB’s work warrants monitoring of these future external challenges, it said.