The CFPB Can Strengthen Guidance on Cost-Increase Modifications

Date Issued

Monday, December 9, 2024

Submitting OIG

Federal Reserve Board & CFPB OIG

Agencies Reviewed/Investigated

Consumer Financial Protection Bureau

Report Number

2024-FMIC-C-022

Report Type

Audit

Agency Wide

Yes

Number of Recommendations

Questioned Costs

Funds for Better Use

Report updated under NDAA 5274

Open Recommendations

This report has 1 open recommendations.

Recommendation Number	Significant Recommendation	Recommended Questioned Costs	Recommended Funds for Better Use	Additional Details
1	No	$0	$0
Document, clarify, and communicate requirements for assessing the price on cost-increase modifications, including a. requirements for price reasonableness determinations. b. expectations for legal reviews.