Skip to main content

Priority Open Recommendations: Board of Governors of the Federal Reserve System

GAO-25-108047 Published: May 09, 2025. Publicly Released: May 16, 2025.
Jump To:
Skip to Highlights

Highlights

What GAO Found

In May 2024, GAO identified two priority recommendations for the Board of Governors of the Federal Reserve System. The Federal Reserve has not implemented those recommendations. In May 2025, GAO identified three additional priority recommendations for the Federal Reserve, bringing the total to five. These recommendations involve the following areas:

  • bank supervision,
  • financial services regulations,
  • blockchain technology, and
  • financial technology.

The Federal Reserve's continued attention to these issues could lead to significant improvements in government operations.

Why GAO Did This Study

Priority open recommendations are the GAO recommendations that warrant priority attention from heads of key departments or agencies because their implementation could save large amounts of money; improve congressional or executive branch decision-making on major issues; eliminate mismanagement, fraud, and abuse; or ensure that programs comply with laws and funds are legally spent, among other benefits. Since 2015, GAO has sent letters to selected agencies to highlight the importance of implementing such recommendations.

For more information, contact Daniel Garcia-Diaz at garciadiazd@gao.gov.

Full Report

GAO Contacts

Dan Garcia-Diaz
Managing Director
Financial Markets and Community Investment

Media Inquiries

Sarah Kaczmarek
Managing Director
Office of Public Affairs

Public Inquiries

Topics

Federal reserve systemFinancial institutionsFinancial regulatory systemFinancial stabilityPolicies and proceduresHigh-risk issuesBest practicesCompliance oversightFinancial marketsCommunity investments