WASHINGTON (7/1/11)--Mark Bialek will begin his term as inspector general of the Federal Reserve and the Consumer Financial Protection Bureau (CFPB) on July 25. Bialek, according to a Fed release, will “lead the Office of Inspector General staff in promoting the economy, efficiency, and effectiveness” of Fed and CFPB operations and “in preventing and detecting waste, fraud, and abuse.” The incoming inspector general will succeed recent retiree Elizabeth Coleman. Bialek most recently held the position of deputy inspector general at the Environmental Protection Agency. He previously held other related legal positions at that agency, and has also worked at the Department of State and the Department of Commerce. The CFPB is scheduled to take over a number of consumer-oriented responsibilities from various financial regulators later this month.