search
OIG
Trends
- 1Fed's lack of action let information security risks fester, watchdog finds●Fed’s ‘collective lack of action’ let info security risks fester: OIG Governance of the central bank’s information secur
A report by the Federal Reserve's Office of Inspector General criticises the central bank's information security governance, saying unclear ownership and weak enforcement of controls allowed a 2024 security incident to remain unresolved for over a year. The OIG says a collective lack of action within the Fed let risks persist, raising questions about oversight at the US central bank.
- 2Fed watchdog finds mismanagement, not crime, in $2.5B renovation●Fed watchdog finds mismanagement, not criminality, in $2.5B renovation The Fed should establish a guaranteed maximum pri
The Federal Reserve's inspector general has concluded that poor management, rather than criminal conduct, drove the soaring cost of the Fed headquarters renovation, now estimated at $2.5 billion and several years behind. The OIG recommends the Fed set a guaranteed maximum price for the project to contain further overruns and tighten oversight.