MNI BRIEF: Horowitz Appointed Inspector General For Fed, CFPB

Michael Horowitz has been appointed inspector general of the Federal Reserve and Consumer Financial Protection Bureau by Fed Chair Jerome Powell, succeeding Mark Bialek who retired in April after 14 years in the role. 

Horowitz was most recently inspector general for the Department of Justice, a position he has held since April 2012.

The internal watchdog is tasked with making recommendations to improve the efficiency and effectiveness of the agencies, as well as preventing and detecting waste, fraud, and abuse, the Fed said in a statement. Unlike some other agencies, the Fed and CFPB role is not appointed by the president or confirmed by the Senate.