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Recommendations Database

GAO’s recommendations database contains report recommendations that still need to be addressed. GAO’s priority recommendations are those that we believe warrant priority attention. We sent letters to the heads of key departments and agencies, urging them to continue focusing on these issues. Below you can search only priority recommendations, or search all recommendations.

Our recommendations help congressional and agency leaders prepare for appropriations and oversight activities, as well as help improve government operations. Moreover, when implemented, some of our priority recommendations can save large amounts of money, help Congress make decisions on major issues, and substantially improve or transform major government programs or agencies, among other benefits.

As of October 25, 2020, there are 4812 open recommendations, of which 473 are priority recommendations. Recommendations remain open until they are designated as Closed-implemented or Closed-not implemented.

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  • For general information about recommendations, contact GAO's Audit Policy and Quality Assurance office at (202) 512-6100 or apqa@gao.gov.

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Results:

Federal Agency: "Federal Deposit Insurance Corporation"

5 publications with a total of 8 open recommendations including 2 priority recommendations
Download these results in CSV format or XLSX format.
Bank Supervision: FDIC Could Better Address Regulatory Capture Risks
GAO-20-519, Sep 4, 2020
Director: Michael Clements
Phone: (202) 512-8678

4 open recommendations
Display
Recommendation: The Division Director for Risk Management Supervision (RMS) should require case managers to document how high-risk areas in the scoping plan were considered by the examination team if they were not addressed in the examination report. (Recommendation 1)

Agency: Federal Deposit Insurance Corporation
Status: Open

Comments: When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Recommendation: The Division Director for RMS should implement policies to require that higher-level managers review case managers' documentation that describes whether banks have fully addressed MRBAs. (Recommendation 2)

Agency: Federal Deposit Insurance Corporation
Status: Open

Comments: When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Recommendation: The Division Director for RMS should revise examination documentation retention policies to increase the retention period beyond one examination cycle for banks with satisfactory or better composite ratings. (Recommendation 3)

Agency: Federal Deposit Insurance Corporation
Status: Open

Comments: When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Recommendation: The FDIC Chairman should direct RMS and the Legal Division Ethics Unit to develop a process for systematically requesting and collecting information on where departing examiners, including examiners-in-charge, enter into employment after leaving FDIC. (Recommendation 4)

Agency: Federal Deposit Insurance Corporation
Status: Open

Comments: When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Bank Secrecy Act: Examiners Need More Information on How to Assess Banks' Compliance Controls for Money Transmitter Accounts
GAO-20-46, Dec 3, 2019
Director: Michael E. Clements
Phone: (202) 512-8678

1 open recommendations
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Recommendation: The Chairman of the Federal Deposit Insurance Corporation should, in coordination with the other federal banking regulators, and with input from BSA/AML examiners and other relevant stakeholders, take steps to improve examiners' ability to evaluate the effectiveness of banks' BSA/AML compliance controls with respect to money transmitter accounts. Steps may include providing updates to examination procedures, examiner training, or a combination of methods. (Recommendation 3)

Agency: Federal Deposit Insurance Corporation
Status: Open

Comments: When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Bank Supervision: Regulators Improved Supervision of Management Activities but Additional Steps Needed
GAO-19-352, May 14, 2019
Director: Michael Clements
Phone: (202) 512-8678

1 open recommendations
Display
Recommendation: The Director of the Division of Risk Management Supervision of FDIC should take steps to improve the completeness of matters requiring board attention (MRBA) data in its tracking system, in particular, by developing a structure that allows examiners to record MRBAs at progressively more granular levels (from a broad level such as examination area to more specific levels, including risk or concern type). (Recommendation 3)

Agency: Federal Deposit Insurance Corporation
Status: Open

Comments: FDIC agreed that a structure should be enhanced to allow staff to further categories MRBAs at the point of entry into the system. As of March 2020, no action has been taken on this recommendation. GAO will continue to monitor for any updates to FDIC procedures.
Financial Technology: Agencies Should Provide Clarification on Lenders' Use of Alternative Data [Reissued with revisions on Mar. 12, 2019.]
GAO-19-111, Dec 19, 2018
Director: Michael E. Clements
Phone: (202) 512-8678

1 open recommendations
including 1 priority recommendation
Display
Recommendation: The Chairman of the Federal Deposit Insurance Corporation should, in coordination with the other federal banking regulators and the Bureau of Consumer Financial Protection and with input from relevant stakeholders, communicate in writing to banks that engage in third-party relationships with fintech lenders on the appropriate use of alternative data in the underwriting process, including issues to consider when selecting types of alternative data to use. (Recommendation 3)

Agency: Federal Deposit Insurance Corporation
Status: Open
Priority recommendation

Comments: In December 2019, the Board of Governors of the Federal Reserve System, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency (the agencies) issued an interagency statement on the use of alternative data in credit underwriting. The statement broadly highlights some potential benefits and risks of using alternative data and encourages firms to responsibly use alternative data, but does not provide firms or banks with specific direction on the appropriate use of alternative data, including issues to consider when selecting types of alternative data to use. We will continue to monitor the agencies' actions related to this recommendation.
Financial Technology: Additional Steps by Regulators Could Better Protect Consumers and Aid Regulatory Oversight
GAO-18-254, Mar 22, 2018
Director: Lawrance L. Evans, Jr.
Phone: (202) 512-8678

1 open recommendations
including 1 priority recommendation
Display
Recommendation: The Chairman of the Federal Deposit Insurance Corporation should engage in collaborative discussions with other relevant financial regulators in a group that includes all relevant stakeholders and has defined agency roles and outcomes to address issues related to consumers' use of account aggregation services. (Recommendation 7)

Agency: Federal Deposit Insurance Corporation
Status: Open
Priority recommendation

Comments: In November 2018, FDIC staff confirmed that they have engaged in collaborative discussions with other relevant financial regulators regarding issues related to consumers' use of account aggregation services and associated liability issues. We followed up in April 2019 and they confirmed that their collaboration had yet to produce outcomes that would satisfy the recommendation.