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Regulatory agencies (1 - 10 of 31 items)
Consumer Product Safety Oversight: Opportunities Exist to Strengthen Coordination and Increase Efficiencies and Effectiveness
GAO-15-52: Published: Nov 19, 2014. Publicly Released: Nov 19, 2014.
GAO identified eight agencies that have direct oversight responsibilities for consumer product safety: the Consumer Product Safety Commission (CPSC), Department of Housing and Urban Development, Environmental Protection Agency, Food and Drug Administration, National Highway Traffic Safety Administration (NHTSA), Nuclear Regulatory Commission, Pipeline and Hazardous Materials Safety Administration,...
Virtual Currencies: Emerging Regulatory, Law Enforcement, and Consumer Protection Challenges
GAO-14-496: Published: May 29, 2014. Publicly Released: Jun 26, 2014.
Virtual currencies are financial innovations that pose emerging challenges to federal financial regulatory and law enforcement agencies in carrying out their responsibilities, as the following examples illustrate:Virtual currency systems may provide greater anonymity than traditional payment systems and sometimes lack a central intermediary to maintain transaction information. As a result, financi...
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...
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...
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...
Consumer Finance: Regulatory Coverage Generally Exists for Financial Planners, but Consumer Protection Issues Remain
GAO-11-235: Published: Jan 18, 2011. Publicly Released: Jan 18, 2011.
Consumers are increasingly turning for help to financial planners-- individuals who help clients meet their financial goals by providing assistance with such things as selecting investments and insurance products, and managing tax and estate planning. The Dodd-Frank Wall Street Reform and Consumer Protection Act mandated that GAO study the oversight of financial planners. This report examines (1)...
Household Goods Moving Industry: Progress Has Been Made in Enforcement, but Increased Focus on Consumer Protection Is Needed
GAO-10-38: Published: Oct 30, 2009. Publicly Released: Nov 30, 2009.
Each year, the Federal Motor Carrier Safety Administration (FMCSA) within the Department of Transportation (DOT) receives about 3,000 consumer complaints regarding interstate moving companies: some involve egregious offenses, such as holding goods hostage. Over the years, Congress and GAO have raised concerns about the adequacy of FMCSA's oversight of the industry. As requested, GAO reviewed the (...