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Report Fraud, Waste, or Abuse
April 1, 2013–September 30, 2013
The OIG Hotline serves as a resource for individuals to report fraud, waste, abuse, or mismanagement related to the programs or operations of the Board and the CFPB. Hotline staff can be reached by phone, fax, mail, or e-mail. OIG analysts review all incoming Hotline communications, research and analyze the issues raised, and determine how to best address the complaints. During this reporting period, the Hotline received 491 complaints.
The OIG Hotline continued to receive a significant number of complaints involving fraudulent e-mail solicitations invoking the name of the Federal Reserve, the Chairman of the Board of Governors, and the Governors of the Federal Reserve System. Hotline staff continue to advise all individuals that these "phishing" e-mails are solicitations that attempt to obtain the personal or financial information of the recipient and that neither the Board nor the Federal Reserve Banks endorse or have any involvement in them. As appropriate, the OIG may investigate these complaints.
The OIG Hotline continued to receive a number of complaints from individuals seeking information about or wanting to file noncriminal consumer complaints against financial institutions. After analyzing these complaints, Hotline staff typically refer the complainant to the consumer group of the appropriate federal regulator for the institution involved, such as the Customer Assistance Group of the OCC. As appropriate, Hotline staff refer individuals to the CFPB's Consumer Response unit for assistance regarding complaints about credit cards, student loans, mortgages, and other consumer financial products and services.
As part of the Hotline's continued outreach efforts, Hotline staff continue to present information about the OIG and its Hotline to new employees of the Board and the CFPB and distribute Hotline magnets to all Board and CFPB employees at their respective orientation sessions.
|Complaints pending from previous reporting period||16|
|Complaints received during reporting period||491|
|Total complaints for reporting period||507|
|Complaints resolved during reporting period||500|
|Reduced project completion times||7|