Report: 84% of 370 GAO, OIG recommendations to CFPB, dating back to 2010, have been closed

A report issued Friday by the federal agency charged with consumer financial protection says the agency has closed 311 of the 370 recommendations it received from the congressional watchdog and its own inspector general’s office from July 2010 through December 2019.

In brief, the Consumer Financial Protection Bureau (CFPB) reported that:

  • Of the total 370 recommendations, 90 were issued by the Government Accountability Office (GAO) and 280 were issued by the bureau’s Office of Inspector General (OIG). Of the 280 findings issued by OIG, 240 or 86% have been closed. Of the 90 recommendations issued by GAO, 71 or 79% have been closed.
  • In fiscal year 2019, 38 recommendations were issued to the CFPB under 13 reports from GAO and OIG.
  • Of the 325 recommendations issued from July 2010 through fiscal year 2018, 303 or 93% have been closed by the issuing auditor.

GAO-IG Act Reporting, Annual Report (February 2020)