On June 6, the OIG for the Fed and the CFPB responded to requests from Sens. Andy Kim (D-NJ) and Elizabeth Warren (D-MA) for a review of recent workforce reductions and contract cancellations at the CFPB. The OIG confirmed it had already begun examining the Bureau’s workforce actions in response to similar requests and would expand its review to include the cancellation of contracts. The OIG stated it will report its findings to Sen. Kim and other relevant parties once the review is complete.

Visit our resource center, CFPB Pause: Where From Here?, to stay on top of the latest and what it may mean for the federal and state regulatory and enforcement landscape.