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CFPB Report: 2019-SR-C-005 March 25, 2019

The Bureau Can Improve Its Risk Assessment Framework for Prioritizing and Scheduling Examination Activities

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The Dodd-Frank Act authorizes the Bureau to supervise all depository institutions with more than $10 billion in total assets and their affiliates, along with thousands of nondepository institutions. The agency seeks to prioritize its examination activities based on an annual assessment of risk posed to consumers. We evaluated the effectiveness of this approach.

The Bureau can improve its risk assessment framework for prioritizing and scheduling examinations by providing employees with additional training and guidance on the process for assigning a key risk score to institution product lines, improving preliminary research on supervised institutions, and improving internal reporting of changes to the examination schedule.

Our report contains recommendations.