Financial institutions (21 - 30 of 132 items)
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...
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...
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...
Government Support for Bank Holding Companies: Statutory Changes to Limit Future Support Are Not Yet Fully Implemented
GAO-14-174T: Published: Jan 8, 2014. Publicly Released: Jan 8, 2014.
GAO found that from 2007 through 2009, the federal government's actions to stabilize the financial system provided significant funding support and other benefits to bank holding companies and their subsidiaries. The Board of Governors of the Federal Reserve System (Federal Reserve Board), the Department of the Treasury (Treasury), and FDIC introduced new programs with broad-based eligibility that...
Troubled Asset Relief Program: Status of Treasury's Investments in General Motors and Ally Financial
GAO-14-6: Published: Oct 29, 2013. Publicly Released: Oct 29, 2013.
Since receiving federal assistance, General Motors Company (GM) has shown increasingly positive financial results. For each of the past 3 years, GM has reported profits, positive and growing operational cash flow, and a stable liquidity position. This improved financial performance has been reflected in GM's credit rating, as each of the three largest credit rating agencies has increased GM's long...
Troubled Asset Relief Program: Treasury's Use of Auctions to Exit the Capital Purchase Program
GAO-13-630: Published: Jul 8, 2013. Publicly Released: Jul 8, 2013.
The U.S. Department of the Treasury (Treasury) has increasingly used auctions to sell its Capital Purchase Program (CPP) investments. Initially, Treasury relied primarily on financial institutions redeeming their shares to wind down the program. However, in March 2012 Treasury began using auctions to exit CPP, and more institutions have exited the program through auctions than through any other me...
Dodd-Frank Act: Agencies' Efforts to Analyze and Coordinate Their Rules
GAO-13-101: Published: Dec 18, 2012. Publicly Released: Dec 18, 2012.
Federal agencies conducted the regulatory analyses required by various federal statutes for all 54 regulations issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) that GAO reviewed. As part of their analyses, the agencies generally considered, but typically did not quantify or monetize, the benefits and costs of these rules. Most of the federal financi...
Small Business Lending: Opportunities Exist to Improve Performance Reporting of Treasury's Programs
GAO-13-76: Published: Dec 5, 2012. Publicly Released: Dec 5, 2012.
The U.S. Department of the Treasury (Treasury) has made progress in developing guidance and procedures to monitor participants' compliance with requirements for the Small Business Lending Fund (SBLF) and the State Small Business Credit Initiative (SSBCI) programs. In response to GAO's previous recommendation on SBLF monitoring, Treasury has developed procedures for monitoring SBLF participant comp...
Community Banks and Credit Unions: Impact of the Dodd-Frank Act Depends Largely on Future Rule Makings
GAO-12-881: Published: Sep 13, 2012. Publicly Released: Sep 13, 2012.
While the number of community banks and credit unions has declined in recent years, they have remained important lenders to small businesses and other local customers. From 1985 through 2010, the number of banks under $10 billion in assets and credit unions declined by over 50 percent to 7,551 and 7,339, respectively. The decline resulted largely from consolidations, which were facilitated by chan...
Ginnie Mae: Risk Management and Cost Modeling Require Continuing Attention
GAO-12-49: Published: Nov 14, 2011. Publicly Released: Dec 1, 2011.
The Government National Mortgage Association (Ginnie Mae) has increased its role in the secondary mortgage market significantly. Ginnie Mae is a wholly owned government corporation in the Department of Housing and Urban Development (HUD). It guarantees the timely payment of principal and interest of mortgage-backed securities (MBS) backed by pools of federally insured or guaranteed mortgage loans,...