UPDATE: December 10, 2105

The Federal Reserve Board IG, CFPB lawyers, and General Dynamics lawyers are all hiding, refusing to address the allegations of their illegal conduct. They haven’t even tried to deny the allegations. The situation is escalating rapidly.

December 9, 2015

Prescott Lovern, Sr. (Lovern) discovered in a Report to Congress (Report), September 2, 2015, about the Consumer Financial Protection Bureau (CFPB),  the Inspector General (IG) for the Federal Reserve Board (FRB), Mark Bialek, lied to Congress about the CFPB being in compliance with “all applicable laws”. Lovern just finished an investigation into the CFPB and discovered high ranking CFPB executives / lawyers are violating, but not limited to, Dodd Frank, FTC Act, state and federal criminal statutes, and the federal False Claims Act.

In addition, General Dynamics / General Dynamics Information Technology (collectively “GD”) executives are conspiring with CFPB executives / lawyers on the same violations, and, FRB IG personnel is also involved.

The FRB IG’s office serves as the IG for the CFPB. They are all acting in concert to trample the federally protected / states’ rights of U.S. Consumers associated with the CFPB compliant process, via the CFPB Consumer Response Center, owned an operated by GD.

For the CFPB to intentionally violate Dodd Frank to protect companies they regulate, violating the rights of consumers in the process, as well as violating the intent of Congress as to the purpose of Dodd Frank is OUTRAGEOUS. Lovern said, “I’m gonna stop it. Somebody needs to go to prison.”

Lovern has filed the paperwork to establish himself as the Qui Tam – Private Attorney General under the Federal False Claims Act (FCA); and, he intends to make guilty parties pay statutory fines under the DCCPPA.

Other FRB IG personnel who worked on the Report are:

Report Contributors -

James Keegan, OIG Manager

Dave Horn, Project Lead

Victor Calderon, Senior Forensic Auditor

Bettye Latimer, Senior Auditor

Hau Clayton, Auditor

Matt Gibbons, Auditor

Dennis Wolley Jr., Audit Intern

Cynthia Gray, Senior OIG Manager for Financial Management and Internal Controls

Melissa Heist, Associate Inspector General for Audits and Evaluations


Stay tuned.



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