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Reporting requirements (11 - 20 of 24 items)
Feasibility of Requiring Financial Assurances for the Recall or Destruction of Unsafe Consumer Products
GAO-09-512R: Published: Apr 22, 2009. Publicly Released: Apr 22, 2009.
In 2008, the Consumer Product Safety Commission (CPSC) announced that it had obtained the voluntary recall of 563 unsafe or potentially unsafe products by the companies that manufactured, imported, distributed, or sold the products--the largest number for the agency in the past 10 years. In the prior year, CPSC announced 472 recalls--which was also an increase from the previous year and included s...
Bank Fees: Federal Banking Regulators Could Better Ensure That Consumers Have Required Disclosure Documents Prior to Opening Checking or Savings Accounts
GAO-08-281: Published: Jan 31, 2008. Publicly Released: Mar 3, 2008.
In 2006, consumers paid over $36 billion in fees associated with checking and savings accounts, raising questions about consumers' awareness of their accounts' terms and conditions. GAO was asked to review (1) trends in the types and amounts of checking and deposit account fees since 2000, (2) how federal banking regulators address such fees in their oversight of depository institutions, and (3) t...
Bankruptcy Reform: Value of Credit Counseling Requirements Is Not Clear
GAO-07-778T: Published: May 1, 2007. Publicly Released: May 1, 2007.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 requires individuals to receive credit counseling before filing for bankruptcy and to take a debtor education course before having debts discharged. Concerns were raised that the new requirements could expose consumers to abusive practices by credit counseling agencies or become barriers to filing for bankruptcy. This testimony is...
Credit Reporting Literacy: Consumers Understood the Basics but Could Benefit from Targeted Educational Efforts
GAO-05-223: Published: Mar 16, 2005. Publicly Released: Mar 16, 2005.
This report responds to a mandate in the Fair and Accurate Credit Transactions Act (FACT Act) of 2003 requiring GAO to assess consumers' understanding of credit reporting. The FACT Act, among other things, extended provisions governing the credit reporting system and addressed ongoing concerns about inaccuracies in credit reports. For example, the act expanded access to credit information by entit...
State Insurance Regulation: Efforts to Streamline Key Licensing and Approval Processes Face Challenges
GAO-02-842T: Published: Jun 18, 2002. Publicly Released: Jun 18, 2002.
The National Association of Insurance Commissioners (NAIC), through its Accreditation Program, has made considerable progress in achieving uniformity among state insurance regulators. In addition, competitive pressures from further consolidation in the financial services sector and enactment of the Gramm-Leach-Bliley Act has focused attention on regulator reforms in the insurance industry. NAIC's...
Consumer Product Safety Commission: Injury Data Insufficient to Assess the Effect of the Changes to the Children's Sleepwear Safety Standard
HEHS-99-64: Published: Apr 1, 1999. Publicly Released: Apr 1, 1999.
Pursuant to a legislative requirement, GAO reviewed the data available on burn injuries to children and the implications of these data for the effect of the recent amendments to the children's sleepwear standard, focusing on: (1) how many burn injuries involving children's sleepwear occurred annually before and after the amendments; and (2) what conclusions, if any, can be drawn from these data ab...
Consumer Product Safety Commission: Better Data Needed to Help Identify and Analyze Potential Hazards
HEHS-97-147: Published: Sep 29, 1997. Publicly Released: Oct 23, 1997.
Pursuant to a congressional request, GAO reviewed the Consumer Product Safety Commission's (CPSC) project selection, use of cost-benefit analysis and risk assessment, and information release procedures, focusing on: (1) the criteria CPSC uses to select projects and the information it relies upon in making these choices; (2) the information CPSC draws on to perform risk assessment and cost-benefit...
Health Insurance Regulation: Varying State Requirements Affect Cost of Insurance
HEHS-96-161: Published: Aug 19, 1996. Publicly Released: Sep 23, 1996.
Pursuant to a congressional request, GAO provided information on the costs of state health insurance requirements, focusing on: (1) premium taxes on insured health plans; (2) mandated health benefits; (3) financial solvency standards; and (4) state health insurance reforms affecting small employers.GAO found that: (1) state health insurance regulation imposes requirements and costs on third-party...
Limited Partnership Rollups
GGD-95-180R: Published: Aug 3, 1995. Publicly Released: Aug 3, 1995.
Pursuant to a legislative requirement, GAO reviewed the use of fairness opinions in limited partnership rollups. GAO noted that it did not have a sufficient basis to submit any conclusions on the use of fairness opinions, since only one fairness opinion and five rollups in total were filed since the legislation was enacted...
Investment Advisers: Oversight Is Inadequate for Investor Protection
T-GGD-92-46: Published: Jun 4, 1992. Publicly Released: Jun 4, 1992.
GAO discussed the Securities and Exchange Commission's (SEC) regulation of investment advisers. GAO noted that: (1) SEC requires investment advisers to register and approves completed applications if it does not find any disqualifying securities violations in its files, but does not prescribe professional qualifications for advisers, verify applicants' education and business backgrounds, or have p...