Resolution Trust Corporation:

Implementation of the Management Reforms in the RTC Completion Act

GGD-95-67: Published: Mar 9, 1995. Publicly Released: Mar 9, 1995.

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Pursuant to a legislative requirement, GAO reviewed the Resolution Trust Corporation's (RTC) efforts to implement management reforms required under the RTC Completion Act, focusing on: (1) how RTC and the Thrift Depositor Protection Oversight Board are implementing the reforms; and (2) RTC progress toward achieving full compliance with the requirements.

GAO found that: (1) RTC has completed actions on three reforms, and has made progress towards implementing the remaining 17 reforms; (2) RTC has taken action on six reforms involving RTC general managment functions; (3) RTC should monitor these reforms to ensure that appropriate future actions are taken when necessary; (4) in 1993, RTC created the Division of Minority and Women's programs, appointed a Chief Financial Officer, and created a client responsiveness unit in RTC field offices; (5) monitoring of RTC resolution and disposition activities is needed to ensure full compliance; (6) the Oversight Board has established an audit committee to monitor RTC audit activities; and (7) planned actions to enhance RTC information systems and develop draft guidelines to improve specific RTC contracting procedures have not been completed.

Jul 6, 2020

Apr 30, 2020

  • finance icon, source: Comstock

    Priority Open Recommendations:

    Department of the Treasury
    GAO-20-549PR: Published: Apr 23, 2020. Publicly Released: Apr 30, 2020.

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