Board Report: 2014-AE-B-006 March 28, 2014
OFFICE OF INSPECTOR GENERAL
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
CONSUMER FINANCIAL PROTECTION BUREAU
March 28, 2014
Donald Hammond
Chief Operating Officer
Board of Governors of the Federal Reserve System
Michell Clark
Director, Management Division
Board of Governors of the Federal Reserve System
Melissa Heist /signed/
Associate Inspector General for Audits and Evaluations
OIG Report No. 2014-AE-B-006: The Board's Law Enforcement Unit Could Benefit From Enhanced Oversight and Controls to Ensure Compliance With Applicable Regulations and Policies
The Office of Inspector General has completed its final report on the subject inspection. We conducted this inspection to assess the Law Enforcement Unit’s (LEU) compliance with Board of Governors of the Federal Reserve System (Board) and LEU internal policies and procedures and applicable regulations. We also conducted this inspection to fulfill our responsibility, as the external oversight function, to review and evaluate the Board’s law enforcement programs and operations.
Our report contains 10 recommendations to enhance oversight and controls in the Board’s LEU. We provided you with a copy of our draft report for review and comment. In your response, you stated your overall concurrence with our recommendations and that you have made, or will implement, changes to the oversight of the LEU as well as strengthen controls within the LEU. We have included your response as appendix B in our report.
We appreciate the cooperation that we received from the LEU. Please contact me if you would like to discuss this report or any related issues.
David Capp
Curtis Eldridge
William Mitchell
