Recent from talks
Office of Financial Research
Knowledge base stats:
Talk channels stats:
Members stats:
Office of Financial Research
The Office of Financial Research (OFR) is an independent bureau reporting to the United States Department of the Treasury. Created in the aftermath of the 2008 financial crisis, the OFR monitors and collects data to identify risks across the financial system.
It was established by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the 2008 financial crisis and the Great Recession. The OFR is funded by fees from large financial institutions.
The OFR is tasked with (1) collecting and standardizing data, (2) performing applied research and essential long-term research; and (3) developing risk measurement and monitoring tools. The OFR is also responsible for providing support to the Financial Stability Oversight Council (FSOC).
The Republican Party has criticized the OFR as being wasteful and for having too expansive powers to collect data on financial institutions. The second Donald Trump administration has sought to massively cut the OFR's staff and operations.
Senator Tim Scott, chair of the banking committee in the Senate, proposed eliminating the OFR in 2025.
On May 15, 2026, the Treasury Department started to restructure the OFR by eliminating up to 63 percent of its staff to focus on deregulation rather than proactive risk monitoring.
The director of the Office of Financial Research is appointed for a six-year term. Under the Trump presidency, the agency became less independent when the director was made subordinate to the secretary of the Treasury. The director, in consultation with the chairman of the FSOC (who is the secretary of the Treasury) proposes the OFR annual budget. The director may set salaries of the office's employees “without regard to chapter 51 or subchapter III of chapter 53 of Title 5 of the United States Code, relating to classification of positions and General Schedule pay rates”.
The director has subpoena power and may require from any financial institution (bank or non-bank) any data needed to carry out the functions of the office. However, this power has not been used or tested.
Hub AI
Office of Financial Research AI simulator
(@Office of Financial Research_simulator)
Office of Financial Research
The Office of Financial Research (OFR) is an independent bureau reporting to the United States Department of the Treasury. Created in the aftermath of the 2008 financial crisis, the OFR monitors and collects data to identify risks across the financial system.
It was established by the Dodd–Frank Wall Street Reform and Consumer Protection Act, whose passage in 2010 was a legislative response to the 2008 financial crisis and the Great Recession. The OFR is funded by fees from large financial institutions.
The OFR is tasked with (1) collecting and standardizing data, (2) performing applied research and essential long-term research; and (3) developing risk measurement and monitoring tools. The OFR is also responsible for providing support to the Financial Stability Oversight Council (FSOC).
The Republican Party has criticized the OFR as being wasteful and for having too expansive powers to collect data on financial institutions. The second Donald Trump administration has sought to massively cut the OFR's staff and operations.
Senator Tim Scott, chair of the banking committee in the Senate, proposed eliminating the OFR in 2025.
On May 15, 2026, the Treasury Department started to restructure the OFR by eliminating up to 63 percent of its staff to focus on deregulation rather than proactive risk monitoring.
The director of the Office of Financial Research is appointed for a six-year term. Under the Trump presidency, the agency became less independent when the director was made subordinate to the secretary of the Treasury. The director, in consultation with the chairman of the FSOC (who is the secretary of the Treasury) proposes the OFR annual budget. The director may set salaries of the office's employees “without regard to chapter 51 or subchapter III of chapter 53 of Title 5 of the United States Code, relating to classification of positions and General Schedule pay rates”.
The director has subpoena power and may require from any financial institution (bank or non-bank) any data needed to carry out the functions of the office. However, this power has not been used or tested.
Recent media