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Department of Justice, Executive (1 - 6 of 6 items)
Financial Company Bankruptcies: Information on Legislative Proposals and International Coordination
GAO-15-299: Published: Mar 19, 2015. Publicly Released: Mar 19, 2015.
The U.S. Bankruptcy Code (Code) chapters dealing with the liquidation or reorganization of a financial company have not been changed since GAO last reported on financial company bankruptcies in July 2013. However, bills introduced in the previous Congress would, if re-introduced and passed, make broad changes to the Code relevant to financial company bankruptcies. The Financial Institution Bankrup...
Bank Capital Requirements: Potential Effects of New Changes on Foreign Holding Companies and U.S. Banks Abroad
GAO-12-235: Published: Jan 17, 2012. Publicly Released: Jan 17, 2012.
Foreign-owned intermediate holding companies can engage in the same activities as and generally are regulated similarly to their U.S. counterparts. The Board of Governors of the Federal Reserve System (Federal Reserve) oversees the regulation, supervision, and examination of foreign and U.S. bank and thrift holding companies. As of the end of 2010, four qualifying foreign-owned intermediate holdin...
Fair Lending: Data Limitations and the Fragmented U.S. Financial Regulatory Structure Challenge Federal Oversight and Enforcement Efforts
GAO-09-704: Published: Jul 15, 2009. Publicly Released: Jul 15, 2009.
The Fair Housing Act (FHA) and the Equal Credit Opportunity Act (ECOA)--the "fair lending laws"--prohibit discrimination in lending. Responsibility for their oversight is shared among three enforcement agencies--the Department of Housing and Urban Development (HUD), Federal Trade Commission (FTC), and Department of Justice (DOJ)--and five depository institution regulators--the Federal Deposit Insu...
Statutory Authorities to Prohibit Inspector General Activities
GAO-09-660R: Published: May 8, 2009. Publicly Released: May 8, 2009.
This letter provides information Congress requested at the March 25, 2009, hearing entitled The Roles and Responsibilities of Inspectors General within Financial Regulatory Agencies. During the hearing, the former Inspector General (IG) of the Department of Homeland Security (DHS) testified that provisions of the Inspector General Act of 1978, as amended (IG Act), allow the Secretary of the Depart...
Fair Lending: Race and Gender Data Are Limited for Nonmortgage Lending
GAO-08-698: Published: Jun 27, 2008. Publicly Released: Jul 17, 2008.
The Federal Reserve Board's (FRB) Regulation B, which implements the Equal Credit Opportunity Act of 1974 (ECOA), generally prohibits lenders from collecting certain data from loan applicants, such as their race or gender, for nonmortgage loans (e.g., small business loans). FRB has stated that this provision of Regulation B minimizes the chances that lenders would use such data in an unlawful and...
Private Banking: Raul Salinas, Citibank, and Alleged Money Laundering
OSI-99-1: Published: Oct 30, 1998. Publicly Released: Dec 4, 1998.
Pursuant to a congressional request, GAO provided information on Raul Salinas de Gotari, brother of the former President of Mexico, Carlos Salinas de Gotari, and his alleged involvement in laundering money out of Mexico through Citibank to accounts in Citibank affiliates in Switzerland and the United Kingdom, focusing on: (1) how Raul Salinas was able to transfer between $90 million and $100 milli...