Bank and Thrift Failures:

RTC Needs to Improve Planning for Professional Liability Staff Changes

T-GGD-92-69: Published: Aug 11, 1992. Publicly Released: Aug 11, 1992.

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GAO discussed the Resolution Trust Corporation's (RTC) attorney staffing for its Professional Liability Program, focusing on the effect of assignment changes on attorney responsibilities. GAO noted that: (1) staffing shortages and changes have led to program disruptions; (2) the program employs 70 attorneys, which is about half of the number needed; 40 percent of RTC professional liability attorneys have left or been reassigned, including 5 of 7 senior officials; (3) due to the RTC merger with the Federal Deposit Insurance Corporation (FDIC), professional liability staff have been reduced or reorganized, causing program disruptions, staff anxiety, and demoralization; (4) expanding attorney work loads and statutes of limitation make staffing disruptions costly; and (5) effective management and communication is needed to provide a better transfer of RTC staff to FDIC to ensure minimum disruptions to the program.

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  • finance icon, source: Comstock

    Priority Open Recommendations:

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

Apr 27, 2020

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