Wednesday, October 11, 2017 12:50:21 PM
By Thomas Ressler ... tressler@imfpubs.com
The Consumer Financial Protection Bureau may have been too eager to get more examiners into the field, compromising the quality of their training and their effectiveness, according to a new audit report from the agency’s Inspector General.
The CFPB’s Supervision Learning and Development (SL&D) unit has taken steps to enhance the Examiner Commissioning Program (ECP) since its implementation in October 2014, according to the report. However, there apparently were some pretty big holes left.
For starters, the OIG found some examiners appeared to be pursuing parts of the training program before they were fully prepared, which limited their likelihood of success and affected employee morale. “Further, when examiners require multiple attempts to pass ECP components, they are not available to work on examinations, which detracts from the number of available resources for examinations,” the report said.
Also, some examiners did not receive adequate training or developmental opportunities and exposure to certain CFPB internal processes before moving onto certain components of the ECP.
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