The Federal Reserve Board appointed Michael E. Horowitz to lead the Board’s Office of Inspector General (OIG), effective 30 June 2025. By statute, the Federal Reserve’s OIG also serves as inspector general for the Consumer Financial Protection Bureau (CFPB), which is financed by, but autonomous from, the Federal Reserve. The OIG’s remit includes recommending improvements to agency efficiency and effectiveness and preventing and detecting waste, fraud, and abuse. Horowitz succeeds Mark Bialek, who retired in April after nearly 14 years as inspector general, and most recently served as inspector general for the Department of Justice since April 2012, including chairing a committee of 21 federal inspectors general overseeing USD 5 trillion in pandemic relief spending. The OIG was established by Congress as an independent oversight authority for the Board and the CFPB and operates pursuant to the Inspector General Act of 1978.
Federal Reserve Board 2025-06-06
Federal Reserve Board appoints Michael E. Horowitz as Inspector General for the Board and the Consumer Financial Protection Bureau effective 30 June 2025
The Federal Reserve Board appointed Michael E. Horowitz as the new head of its Office of Inspector General (OIG), effective 30 June 2025. The OIG, which also serves the Consumer Financial Protection Bureau, focuses on enhancing agency efficiency and preventing waste, fraud, and abuse. Horowitz succeeds Mark Bialek and previously served as inspector general for the Department of Justice.