Consumer protection (31 - 40 of 177 items)
Real Estate Appraisals: Appraisal Subcommittee Needs to Improve Monitoring Procedures
GAO-12-147: Published: Jan 18, 2012. Publicly Released: Jan 18, 2012.
The Appraisal Subcommittee (ASC) has been performing its monitoring role under Title XI, but several weaknesses have potentially limited its effectiveness. For example, Title XI did not originally provide ASC rulemaking and enforcement tools that could be useful in promoting state compliance. In addition, ASC has not reported or clearly defined the criteria it uses to assess states’ overall comp...
Real Estate Appraisals: Survey of State Appraiser Regulatory Agencies (GAO-12-198SP, January 2012), an E-supplement to GAO-12-147
GAO-12-198SP: Published: Jan 18, 2012. Publicly Released: Jan 18, 2012.
This is an E-supplement to GAO-12-147. It provides information on how state appraiser regulatory agencies carry out their responsibilities under Title XI of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, and their views on selected aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), which amends Title XI and includes new requirement...
Death Services: State Regulation of the Death Care Industry Varies and Officials Have Mixed Views on Need for Further Federal Involvement
GAO-12-65: Published: Dec 15, 2011. Publicly Released: Jan 17, 2012.
The extent to which the federal and state governments regulate the death care industryfuneral homes, cemeteries, crematories, pre-need funeral plans, and third party sales of funeral goodsvaries, as does the extent to which regulation has changed since GAO last reported on the regulation of the death care industry in 2003. The Federal Trade Commission (FTC) continues to annually conduc...
Securities Research: Additional Actions Could Improve Regulatory Oversight of Analyst Conflicts of Interest
GAO-12-209: Published: Jan 12, 2012. Publicly Released: Jan 12, 2012.
Existing research and stakeholder views suggest that the Global Settlement and other regulatory actions have helped to address conflicts faced by equity research analysts. The results of the empirical studies that GAO reviewed generally suggest that the Global Settlement and equity research rules adopted by the SROs were associated with improvements in analysts stock recommendations. FINRA o...
Financial Audit: Bureau of Consumer Financial Protection's Fiscal Year 2011 Financial Statements
GAO-12-186: Published: Nov 15, 2011. Publicly Released: Nov 15, 2011.
Title X of the Dodd-Frank Wall Street Reform and Consumer Protection Act, referred to as the Consumer Financial Protection Act of 2010, created the Bureau of Consumer Financial Protection (CFPB). The act charged it with the responsibility of regulating the offering and provision of consumer financial products or services under the federal consumer financial laws. The act also requires CFPB to annu...
Consumer Product Safety Commission: Action Needed to Strengthen Identification of Potentially Unsafe Products
GAO-12-30: Published: Oct 12, 2011. Publicly Released: Oct 12, 2011.
In the wake of increased product recalls in 2007-2008, Congress passed the Consumer Product Safety Improvement Act of 2008 (CPSIA). Among other things, CPSIA requires the Consumer Product Safety Commission (CPSC) to establish a database on the safety of consumer products that is publicly available, searchable, and accessible through the CPSC Web site. In response, CPSC launched SaferProducts.gov i...
Residential Appraisals: Opportunities to Enhance Oversight of an Evolving Industry
GAO-11-653: Published: Jul 13, 2011. Publicly Released: Jul 13, 2011.
Real estate valuations, which encompass appraisals and other estimation methods, have come under increased scrutiny in the wake of the recent mortgage crisis. The Dodd- Frank Wall Street Reform and Consumer Protection Act (the Act) mandated that GAO study the various valuation methods and the options available for selecting appraisers, as well as the Home Valuation Code of Conduct (HVCC), which es...
Person-To-Person Lending: New Regulatory Challenges Could Emerge as the Industry Grows
GAO-11-613: Published: Jul 7, 2011. Publicly Released: Jul 7, 2011.
Over the last decade, Internet-based platforms have emerged that allow individuals to lend money to other individuals in what has become known as person-to-person lending. These online platforms present a new source of credit for borrowers and a potential investment opportunity for those with capital to lend. Both for-profit and nonprofit options exist, allowing for income-generating and philanthr...
Mortgage Foreclosures: Documentation Problems Reveal Need for Ongoing Regulatory Oversight
GAO-11-433: Published: May 2, 2011. Publicly Released: May 5, 2011.
Mortgage servicers--entities that manage home mortgage loans--halted foreclosures throughout the country in September 2010, finding that documents required to be provided to courts in some states may have been improperly signed or notarized. In addition, academics and court cases are raising questions over whether foreclosures are being brought properly because of concerns over how loans were tran...
Credit Cards: Consumer Costs for Debt Protection Products Can Be Substantial Relative to Benefits but Are Not a Focus of Regulatory Oversight
GAO-11-311: Published: Mar 25, 2011. Publicly Released: Mar 25, 2011.
Debt protection and credit insurance products can cancel or suspend part or all of a credit card debt under specific circumstances, such as loss of life, disability, or involuntary unemployment. In response to a mandate in the Credit Card Accountability Responsibility and Disclosure Act of 2009, this report reviews these products' market share and characteristics, federal and state oversight, and...