In all 14 focus groups GAO held with older women, women described some level of anxiety about financial security in retirement. Many expressed concerns about the future of Social Security and Medicare benefits, and the costs of health care and housing. Women in the groups also cited a range of experiences that hindered their retirement security, such as divorce or leaving the workforce before the

The federal government has long identified the financial services sector as a critical component of the nation's infrastructure. The sector includes commercial banks, securities brokers and dealers, and providers of the key financial systems and services that support these functions. Altogether, the sector holds about $108 trillion in assets and faces a variety of cybersecurity-related risks. Key

In all 14 focus groups GAO held with older women, women described some level of anxiety about financial security in retirement. Many expressed concerns about the future of Social Security and Medicare benefits, and the costs of health care and housing. Women in the groups also cited a range of experiences that hindered their retirement security, such as divorce or leaving the workforce before the

Since 2015, Congress has not changed parts of the U.S. Bankruptcy Code (Code) related to financial companies or the Orderly Liquidation Authority (OLA). However, the Federal Deposit Insurance Corporation (FDIC) and the Board of Governors of the Federal Reserve System (Federal Reserve) have updated the resolution planning process to better match resolution planning requirements to the risks of com

In April 2019, GAO identified 2 priority recommendations for the Federal Deposit Insurance Corporation (FDIC). Since then, FDIC has implemented none of those recommendations. In April 2020, GAO identified 1 additional priority recommendation for FDIC, bringing the total number to 3. These recommendations involve the following areas: (1) collaborating with other financial regulators to address con

In April 2019, GAO identified 10 priority recommendations for the Board of Governors of the Federal Reserve System (Federal Reserve). Since then, the Federal Reserve has implemented 3 of those recommendations. In April 2020, GAO identified 1 additional priority recommendation for the Federal Reserve, bringing the total number to 8. These recommendations involve the following areas: (1) collaborat

GAO's analyses of U.S. Immigration and Customs Enforcement (ICE) and U.S. Customs and Border Protection (CBP) data on pregnant women found: (1) ICE detained pregnant women over 4,600 times from calendar year 2016 through 2018, with more than 90 percent resulting from CBP arrests. (2) Sixty-eight percent of these detentions were for 1 week or less, while 10 percent were for more than 30 days. (3)

During GAO's audit of the Schedules of Federal Debt managed by the Department of the Treasury's Bureau of the Fiscal Service (Fiscal Service) for the fiscal years ended September 30, 2019, and 2018, GAO determined that information system control deficiencies—primarily unresolved deficiencies from prior audits—collectively represent a significant deficiency in Fiscal Service's internal control

This testimony summarizes information contained in GAO's March 2020 report, entitled The Nation's Fiscal Health: Action Is Needed to Address the Federal Government's Fiscal Future (GAO-20-403SP). Long-term fiscal projections by GAO, the Congressional Budget Office (CBO), and in the 2019 Financial Report of the U.S. Government (2019 Financial Report) all show that, absent policy changes, the feder

From fiscal years 2013 through 2017, U.S. airports received an average of over $14 billion annually for infrastructure projects. The three largest funding sources are below: (1) Funding from federal Airport Improvement Program (AIP) grants has remained relatively constant, at an annual average of $3.2 billion. Smaller airports (small hub, non-hub, and general aviation) collectively received more