GAO Prods at CFPB’s Budget, Cites “Control Issues”

What's Next In Payments®
4:52 PM EDT May 21st, 2012

The U.S. Government Accountability Office made 10 recommendations for changes to the Consumer Financial Protection Bureau’s “internal controls and accounting procedures,” through an official report issued today.

“We do not consider these issues to represent material weaknesses or significant deficiencies in relation to CFPB’s financial statements,” the GAO said. “Nonetheless, we believe they warrant management’s attention and action.”

The full report is available at the GAO’s website.

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