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We found that the CFPB's practices are consistent with GPRA's intent of promoting greater efficiency, effectiveness, and accountability through effective strategic and performance planning processes. Additionally, the CFPB has voluntarily incorporated good management practices into its GPRA-related activities, including creating division-level strategic plans with division-level performance goals and performance measures and implementing a robust QPR process. Further, the CFPB's strategic planning, performance planning, and QPR processes successfully incorporate practices highlighted by GAO as effective in implementing GPRA. Moreover, we found that the CFPB fully satisfied 22 of the 28 applicable GPRA requirements, as shown in table 1.
Table 1: Summary of the CFPB's Compliance With Applicable GPRA Requirements
|Requirement type||Fully satisfies||Partially satisfies||Does not satisfy||Total|
|Leadership positions, report formatting, and elimination of unnecessary agency reporting||4||0||0||4|
Source: Office of Inspector General (OIG) analysis of GPRA requirements applicable to the CFPB and the CFPB's compliance.
While we noted that the CFPB does not fully satisfy six strategic and performance planning requirements, we found that the CFPB is making progress toward fulfilling three of these six requirements.
Even though the CFPB could improve its compliance with GPRA, we believe that its ongoing efforts toward full compliance, voluntary implementation of division-level strategic plans and QPRs, as well as incorporation of GAO-identified practices demonstrates the CFPB's commitment to establishing a strong GPRA framework. Our report contains two findings with three recommendations designed to help ensure full GPRA compliance and to help the CFPB build on its current success with its GPRA processes.