The Office of Inspector General (OIG) for the Board of Governors of the Federal Reserve System (Board) and the Consumer Financial Protection Bureau (CFPB) is an independent and objective oversight authority established under the Inspector General Act of 1978, as amended: “Though not statutorily required, the OIG compiles annual listings of major management challenges facing the Board and the CFPB. These challenges represent what we believe to be the areas that, if not addressed, are most likely to hamper the Board’s and the CFPB’s accomplishment of their strategic objectives.”