Both the Office of Inspector General (OIG) for the Board of Governors of the Federal Reserve System (Board) and the OIG for the Department of the Treasury (Treasury) have a role in overseeing the Bureau of Consumer Financial Protection (Bureau) during the interim period. Under provisions of the Dodd- Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), the Board's Inspector General is responsible for exercising the role of Inspector General for the Bureau. Specifically, the Dodd-Frank Act provides that the Board's Inspector General "shall have all of the authorities and...

Terrorist financing describes a form of financial crime in which an individual or entity solicits, collects, or provides funds "with the intention that these funds] may be used to support terrorist acts or organizations." While terrorists can benefit from big donations of deep-pocketed financiers sympathetic to their cause, terrorist financing often involves relatively small-dollar amounts and itself is just a subset melting into the larger stream of all financial crime occurring in the international financial system. The threat to national security from terrorist financiers is real, so...