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Financial Markets and Institutions (101 - 110 of 1,452 items)
Information Security: SEC Needs to Improve Controls over Financial Systems and Data
GAO-14-419: Published: Apr 17, 2014. Publicly Released: Apr 17, 2014.
Although the Securities and Exchange Commission (SEC) had implemented and made progress in strengthening information security controls, weaknesses limited their effectiveness in protecting the confidentiality, integrity, and availability of a key financial system. For this system's network, servers, applications, and databases, weaknesses in several controls were found, as the following examples i...
Small Business Administration: Actions Needed to Ensure Planned Improvements Address Key Requirements of the Development Company (504) Loan Program
GAO-14-233: Published: Mar 6, 2014. Publicly Released: Apr 7, 2014.
The Small Business Administration (SBA) has established lending standards to protect against default and has measured program performance, but lacks guidance on determining the number of jobs supported by 504 program-funded projects. SBA's guidance for certified development companies (CDC)—nonprofits that provide funding to small businesses to promote local economic development in their communit...
Troubled Asset Relief Program: Status of the Wind Down of the Capital Purchase Program
GAO-14-388: Published: Apr 7, 2014. Publicly Released: Apr 7, 2014.
The Department of Treasury (Treasury) continues to make progress in winding down the Capital Purchase Program (CPP). As of January 31, 2014, Treasury's data showed that 624 of the original 707 institutions, or about 88 percent, had exited CPP. Treasury had received about $225 billion from its CPP investments, exceeding the approximately $205 billion it had disbursed. Most institutions exited by re...
International Financial Reforms: U.S. and Other Jurisdictions' Efforts to Develop and Implement Reforms
GAO-14-261: Published: Apr 3, 2014. Publicly Released: Apr 3, 2014.
The United States has played an active role in helping to reform financial regulations to address weaknesses revealed by the 2007-2009 financial crisis. According to Treasury officials, during the acute phase of the crisis, the United States proposed elevating the Group of Twenty (G20) forum—representing 19 countries (including the United States) and the European Union—from the level of financ...
Programa Para Mitigar Activos Problemáticos: Es necesario un mayor esfuerzo en el control de préstamos equitativos y en el acceso a los programas de vivienda por parte de personas sin dominio del inglés
GAO-14-457: Published: Mar 31, 2014. Publicly Released: Mar 31, 2014.
This is the Spanish language highlights associated with GAO-14-117. Lo que encontró la GAOLa tasa de participación en el Programa de modificación de la accesibilidad a la vivienda (Home Affordable Modification Program o HAMP), un componente clave del programa Hacer la vivienda accesible (Making Home Affordable o MHA), alcanzó su ápice a principios de 2010, en general disminuyó durante 2011...
Financial Audit: Federal Deposit Insurance Corporation Funds' 2013 and 2012 Financial Statements
GAO-14-303: Published: Mar 13, 2014. Publicly Released: Mar 13, 2014.
In GAO's opinion, the Federal Deposit Insurance Corporation (FDIC) fairly presented, in all material respects, the 2013 and 2012 financial statements for the two funds it administers—the Deposit Insurance Fund (DIF) and the FSLIC Resolution Fund (FRF). Also, in GAO's opinion, FDIC maintained, in all material respects, effective internal control over financial reporting relevant to the DIF and to...
Credit Cards: Marketing to College Students Appears to Have Declined
GAO-14-225: Published: Feb 25, 2014. Publicly Released: Feb 25, 2014.
Trends associated with college affinity card agreements include fewer agreements and cardholders and declining payments, according to data GAO analyzed from the Board of Governors of the Federal Reserve System (Federal Reserve) and the Bureau of Consumer Financial Protection (CFPB). The number of affinity card agreements declined from 1,045 in 2009 to 617 in 2012 (41 percent). More than 70 percent...
IRS's Offshore Voluntary Disclosure Program: 2009 Participation by State and Location of Foreign Bank Accounts
GAO-14-265R: Published: Jan 6, 2014. Publicly Released: Feb 19, 2014.
We reported the number of 2008 tax returns by state for IRS's 2009 Offshore Voluntary Disclosure Program (OVDP) participants. OVPD offered incentives for taxpayers to disclose their offshore accounts and pay delinquent taxes, interest and penalties. Generally, the program offered somewhat reduced penalties and no risk of criminal prosecution, if eligible taxpayers fully disclosed their previously...
College Debit Cards: Actions Needed to Address ATM Access, Student Choice, and Transparency
GAO-14-91: Published: Feb 13, 2014. Publicly Released: Feb 13, 2014.
At least 852 schools, or 11 percent of U.S. colleges and universities, had agreements to provide debit or prepaid card services to their students as of July 2013, and most offered students the ability to receive federal student aid and other payments on a card. These schools were disproportionately large; their enrollments constituted about 40 percent of all postsecondary students. However, the pe...
Troubled Asset Relief Program: More Efforts Needed on Fair Lending Controls and Access for Non-English Speakers in Housing Programs
GAO-14-117: Published: Feb 6, 2014. Publicly Released: Feb 6, 2014.
For the Spanish translation of the highlights page for this document, see GAO-14-457.What GAO FoundParticipation rates in the Home Affordable Modification Program (HAMP), a key component of the Making Home Affordable program (MHA), peaked in early 2010, generally declined during 2011, and remained relatively steady from 2012 through November 2013. As of November 2013, about 1.3 million borrowers h...