Lending institutions (21 - 30 of 309 items)
Troubled Asset Relief Program: Winding Down the Capital Purchase Program
GAO-15-367R: Published: Mar 6, 2015. Publicly Released: Mar 6, 2015.
The Department of the Treasury (Treasury) continues to make progress in winding down the Capital Purchase Program (CPP), and returns have surpassed original CPP investments. As of December 31, 2014, Treasury had received $226.4 billion in repayments, sales, dividends, and interest from its CPP investments, exceeding the amount originally disbursed by $21.5 billion. After accounting for write-offs...
Troubled Asset Relief Program: Treasury Continues to Wind down Most Programs, but Housing Programs Remain Active
GAO-15-197: Published: Jan 6, 2015. Publicly Released: Jan 6, 2015.
The Department of the Treasury (Treasury) continues to wind down Troubled Asset Relief Program (TARP) nonhousing programs that were designed to support financial and automotive markets (see figure). As of September 30, 2014, Treasury had exited four of the nine nonhousing programs that were once active, and was managing assets totaling $2.9 billion under those remaining. Some programs have yielded...
Housing Finance System: A Framework for Assessing Potential Changes
GAO-15-131: Published: Oct 7, 2014. Publicly Released: Oct 7, 2014.
Developments in the single-family housing finance market from 2000-2013 led to changes in the federal government's role in the housing finance system and ultimately to a significant increase in that role. For example,Before the 2007-2009 financial crisis, the market share of nonprime mortgages—loans often made to borrowers with high-risk characteristics and funded by mortgage backed securities (...
Export-Import Bank: Monitoring of Dual-Use Exports Should Be Improved
GAO-14-719: Published: Aug 28, 2014. Publicly Released: Aug 28, 2014.
The Export-Import Bank of the United States (Ex-Im) has policies for monitoring the end use of defense articles and services it finances, including documentation requirements that are reflected in its financing agreements with borrowers. However, these policies do not specify what actions Ex-Im officials should take if the bank does not receive the required dual-use-related documents. The requirem...
Large Bank Holding Companies: Expectations of Government Support
GAO-14-621: Published: Jul 31, 2014. Publicly Released: Jul 31, 2014.
While views varied among market participants with whom GAO spoke, many believed that recent regulatory reforms have reduced but not eliminated the likelihood the federal government would prevent the failure of one of the largest bank holding companies. Recent reforms provide regulators with new authority to resolve a large failing bank holding company in an orderly process and require the largest...
Consumer Finance: Credit Cards Designed for Medical Services Not Covered by Insurance
GAO-14-570: Published: Jun 19, 2014. Publicly Released: Jul 21, 2014.
Multiple entities offer medical credit cards, but according to market participants with whom GAO spoke, CareCredit LLC issues the majority of medical credit cards. In 2013, the company reported 4.4 million cardholders and 177,000 participating providers in its network, the majority of which were dental offices. Several other financial institutions also issue medical credit cards, usually offering...
Community Development Capital Initiative: Status of the Program and Financial Health of Remaining Participants
GAO-14-579: Published: Jun 6, 2014. Publicly Released: Jun 6, 2014.
As of April 30, 2014, 82 percent of the Department of the Treasury's (Treasury) $570 million total investment in eligible banks and credit unions through the Community Development Capital Initiative (CDCI) was still outstanding. Sixteen institutions have exited the program, leaving 29 banks and 39 credit unions, respectively, in the program. Treasury had received repayments and investment income o...
Foreclosure Review: Regulators Could Strengthen Oversight and Improve Transparency of the Process
GAO-14-376: Published: Apr 29, 2014. Publicly Released: Apr 29, 2014.
To negotiate the $3.9 billion cash payment amount in servicers' amended consent orders, the Office of the Comptroller of the Currency (OCC) and the Board of Governors of the Federal Reserve System (Federal Reserve) considered information from the incomplete foreclosure review, including factors such as projected costs for completing the file reviews and remediation amounts that would have been pai...
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...