Lending institutions (21 - 30 of 54 items)
Bank Insider Activities: Insider Problems and Violations Indicate Broader Management Deficiencies
GGD-94-88: Published: Mar 30, 1994. Publicly Released: Mar 30, 1994.
Pursuant to a congressional request, GAO reviewed: (1) insider activities at failed and open banks; (2) the underlying reasons for insider problems, such as insider fraud, insider abuse, and loan losses to insiders; (3) federal bank regulators' oversight of such activities; and (4) the overall amount of insider lending in the U.S. banking industry.GAO found that: (1) insider fraud and loan losses...
Minority-Owned Financial Institutions: Status of Federal Efforts to Preserve Minority Ownership
GGD-94-1: Published: Nov 3, 1993. Publicly Released: Dec 2, 1993.
Pursuant to a congressional request, GAO reviewed the implementation of legislation that is designed to preserve minority ownership of financial institutions and assist minority-owned institutions and minority investors in acquiring failed institutions, focusing on: (1) Department of the Treasury, Federal Deposit Insurance Corporation (FDIC), Office of Thrift Supervision (OTS), and Resolution Trus...
Bank and Thrift Regulation: FDICIA Safety and Soundness Reforms Need to Be Maintained
T-AIMD-93-5: Published: Sep 23, 1993. Publicly Released: Sep 23, 1993.
GAO discussed H.R. 962, the Economic Growth and Financial Institutions Regulatory Paperwork Act of 1993, focusing on the effect this bill would have on credit availability and the safety and soundness of the industry. GAO noted that: (1) H.R. 962 proposes eliminating or altering several of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) safety and soundness reforms conce...
Bank and Thrift Regulation: Concerns About Credit Availability and Regulatory Burden
T-GGD-93-10: Published: Mar 17, 1993. Publicly Released: Mar 17, 1993.
GAO discussed the availability of bank credit to small and medium-sized businesses and the amount of regulatory burden placed on banking institutions. GAO noted that: (1) the Federal Deposit Insurance Corporation Improvement Act reforms are essential for protecting banks and taxpayers from rising deposit insurance costs; (2) problems with lending restrictions, particularly relating to commercial a...
Bank and Thrift Regulation: Improvements Needed in Examination Quality and Regulatory Structure
T-AFMD-93-2: Published: Feb 16, 1993. Publicly Released: Feb 16, 1993.
GAO reviewed bank and thrift examinations and bank holding company inspections performed by the Federal Deposit Insurance Corporation (FDIC), Federal Reserve Board (FRB), Office of the Comptroller of the Currency (OCC), and the Office of Thrift Supervision (OTS). GAO noted that: (1) 94 percent of the bank and thrift examinations performed did not include an adequate assessment of internal controls...
Bank Examination Quality: FDIC Examinations Do Not Fully Assess Bank Safety and Soundness
AFMD-93-12: Published: Feb 16, 1993. Publicly Released: Feb 16, 1993.
GAO reviewed bank examinations performed by the Federal Deposit Insurance Corporation (FDIC).GAO found that: (1) the most recent FDIC examination did not include sufficient evidence for detecting loan quality problems for at least 40 percent of the banks FDIC supervised as of September 30, 1990; (2) FDIC officials believed that examiners were adequately evaluating loans but were not documenting th...
Resolution Trust Corporation: Number and Types of Legal Matters
GGD-93-50FS: Published: Jan 8, 1993. Publicly Released: Jan 8, 1993.
Pursuant to a congressional request, GAO provided information on the number, types, and nature of pending litigation matters involving the Resolution Trust Corporation (RTC).GAO found that: (1) by November 1992, RTC was involved in 77,523 legal matters of which 84 percent remained open and 16 percent were closed; (2) RTC became involved in new legal matters at an average rate of 3,138 per month, p...
High Risk Series: Bank Insurance Fund
HR-93-3: Published: Dec 1, 1992. Publicly Released: Dec 1, 1992.
GAO reviewed the Bank Insurance Fund, focusing on the factors that contributed to the depletion of the Fund's reserves and the need for improved accounting rules and bank examinations.GAO noted that: (1) during the 1980s, U.S. banks made riskier loans to increase their customer base and fight competition from other domestic and foreign financial service vendors; (2) weak internal controls, flawed...
Failed Bank: FDIC Documentation of CrossLand Savings, FSB, Decision Was Inadequate
GGD-92-92: Published: Jul 7, 1992. Publicly Released: Jul 7, 1992.
Pursuant to a legislative requirement, GAO reviewed the Federal Deposit Insurance Corporation's (FDIC) resolution actions regarding a failed bank, focusing on whether the FDIC decision to delay the resolution met the requirements of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA).GAO found that: (1) FDIC violated FDICIA requirements by failing to document its resolution...
OCC's Supervision of the Bank of New England
T-GGD-91-66: Published: Sep 19, 1991. Publicly Released: Sep 19, 1991.
GAO discussed its review of a major bank's failure, focusing on the: (1) causes of the failure; (2) Office of the Comptroller of the Currency (OCC) efforts to adequately assess safety and soundness deficiencies at the bank; and (3) extent to which insider activity may have contributed to the failure. GAO noted that: (1) the bank grew rapidly from fiscal year (FY) 1985 to FY 1988, mainly through ac...