Bank management (81 - 90 of 103 items)
Failed Thrifts: Allegations at FirstSouth Receivership in Little Rock, Arkansas
GGD-89-98: Published: Jun 16, 1989. Publicly Released: Jun 21, 1989.
Pursuant to a congressional request, GAO investigated four allegations of wrongdoing concerning a Federal Savings and Loan Insurance Corporation (FSLIC) receivership.GAO found that the receivership: (1) had an invalid contract with a former receivership property manager to appeal property taxes, since the managing officer exceeded her authority in entering the contract, and the contractor charged...
Thrift Failures: Costly Failures Resulted From Regulatory Violations and Unsafe Practices
AFMD-89-62: Published: Jun 16, 1989. Publicly Released: Jun 16, 1989.
GAO reviewed the Federal Savings and Loan Corporation's (FSLIC) activities to: (1) identify the common characteristics of the most costly failed thrifts, focusing on violations of federal laws or regulations, related unsafe practices, and fraud and insider abuse; (2) compare and contrast the characteristics with solvent thrifts; and (3) identify the impact of deregulation, regional or local econom...
Bank Failures: Independent Audits Needed to Strengthen Internal Control and Bank Management
AFMD-89-25: Published: May 31, 1989. Publicly Released: May 31, 1989.
GAO reviewed recent bank failures, focusing on: (1) the internal weaknesses and environmental factors which examiners cited for insured banks that failed in 1987; (2) the extent to which insider abuse and fraud affected the same failed banks; and (3) potential areas of concern which could be used for congressional oversight and policy deliberation, federal bank examination and supervision, bank ma...
Troubled Thrifts: Bank Board Use of Enforcement Actions
GGD-89-68BR: Published: Apr 13, 1989. Publicly Released: May 5, 1989.
In response to a congressional request, GAO provided preliminary information from its assessment of the Federal Home Loan Bank Board's (FHLBB) enforcement actions against near-failing thrift institutions.GAO found that: (1) FHLBB took no formal enforcement action against over 50 percent of the 424 thrift institutions upon which it focused increased oversight; (2) FHLBB placed thrift institutions i...
Failed Thrifts: Internal Control Weaknesses Create an Environment Conducive to Fraud, Insider Abuse, and Related Unsafe Practices
T-AFMD-89-4: Published: Mar 22, 1989. Publicly Released: Mar 22, 1989.
GAO discussed thrift management practices which primarily caused thrift insolvency and failure. GAO noted that: (1) the Federal Home Loan Bank Board (FHLBB) cited criminal activity, fraud, and insider abuse as the primary causes of thrift insolvency; (2) examination of 26 failed thrifts showed that 85 referrals for alleged criminal activity were made regarding 19 thrifts; (3) investigations led to...
Failed Thrifts: GAO's Analysis of Bank Board 1988 Deals
T-GGD-89-11: Published: Mar 14, 1989. Publicly Released: Mar 14, 1989.
GAO discussed Federal Savings and Loan Insurance Corporation (FSLIC)-assisted sales of failed thrifts. GAO found that: (1) the costs of the sales will exceed FSLIC estimates if guaranteed assets do not have the projected values or if interest rates increase; (2) tax laws granted tax benefits to insolvent thrift acquirers and allowed deduction of presale net operating losses from their future incom...
Failed Thrifts: Bank Board's 1988 Texas Resolutions
GGD-89-59: Published: Mar 11, 1989. Publicly Released: Mar 11, 1989.
Pursuant to a congressional request, GAO reviewed the Federal Home Loan Bank Board's (FHLBB) assistance of 87 insolvent Texas thrifts during 1988.GAO found that the FHLBB Southwest Plan for resolving the insolvent thrift problem: (1) focused primarily on Texas, since its insolvent thrifts constituted about 25 percent of all insolvent thrifts and held 34 percent of insolvent thrift assets; (2) cons...
Resolving Texas Thrift Problems
T-GGD-89-10: Published: Mar 11, 1989. Publicly Released: Mar 11, 1989.
GAO discussed the Federal Savings and Loan Insurance Corporation's (FSLIC) resolution of insolvent thrift institutions in Texas. GAO found that the current strategy for resolving insolvent institutions: (1) provided financial assistance in the form of notes and guarantees to attract prospective acquirers; (2) did not result in any liquidations, and prospective acquirers lacked any knowledge of the...
Bank and Savings and Loan Insurance Funds: Financial Condition and Proposed Reforms
T-AFMD-89-3: Published: Mar 10, 1989. Publicly Released: Mar 10, 1989.
GAO discussed the financial condition of the banking industry and the savings and loan (S&L) industry, and recommendations for solving the S&L crisis. GAO found that: (1) despite the adverse events of the last decade, the banking industry and its insurer, the Federal Deposit Insurance Corporation (FDIC), remain fairly healthy; (2) U.S. banks in general have curtailed or eliminated new loans to les...
Financial Issues: Information on FSLIC Notes and Assistance Agreements
AFMD-89-54FS: Published: Feb 27, 1989. Publicly Released: Mar 10, 1989.
In response to a congressional request, GAO examined the Federal Savings and Loan Insurance Corporation's (FSLIC) use of promissory notes and assistance guarantees to restructure savings and loan institutions' problems, focusing on congressional concerns over note and guarantee issuances.GAO found that: (1) FSLIC was not required to coordinate specific resolution activities with the Department of...