The Federal Reserve's Office of Inspector General found that the Consumer Financial Protection Bureau's information security program is ineffective due to foundational weaknesses. The agency has seen a staff reduction of nearly 30% since September 2024, which the report links to its low maturity level of 2 out of 5. Key issues include inconsistent data asset tracking, unsecured hardware at closed offices, and inefficient vulnerability management. The CFPB's chief information officer responded that the bureau has already addressed most recommendations and intends to resolve all open findings before the year ends.
Read the full story at fedscoop.com.
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