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 November 30, 2021, there are 4659 open recommendations, of which 482 are priority recommendations. Recommendations remain open until they are designated as Closed-implemented or Closed-not implemented.

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Financial Technology: Agencies Should Provide Clarification on Lenders' Use of Alternative Data [Reissued with revisions on Mar. 12, 2019.]

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1 Open Recommendations
1 Priority
Agency Recommendation Status
Federal Reserve System
Priority Rec.
This is a priority recommendation.
The Chair of the Board of Governors of the Federal Reserve System 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 2)
Open

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

Federal Reserve: Additional Actions Could Help Ensure the Achievement of Stress Test Goals

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2 Open Recommendations
2 Priority
Agency Recommendation Status
Federal Reserve System
Priority Rec.
This is a priority recommendation.
To improve the Federal Reserve's ability to manage model risk and ensure that decisions based on supervisory stress test results are informed by an understanding of model risk, the Federal Reserve should design and implement a process to communicate information about the range and sources of uncertainty surrounding the post-stress capital ratio estimates to the Board during CCAR deliberations.
Open

In January 2019, the Federal Reserve said it had previously initiated a project to design and implement a process to communicate uncertainty surrounding the post-stress capital ratio estimates. In April 2021, Federal Reserve staff told us that the Federal Reserve continued to develop such a process and that the completion of related projects to test and document the sensitivity and uncertainty of post-stress capital ratios would facilitate its effort. We will continue to monitor the Federal Reserve's completion and implementation of this project, and will update the status of this

Federal Reserve System
Priority Rec.
This is a priority recommendation.
To improve the Federal Reserve's ability to manage model risk and ensure that decisions based on supervisory stress test results are informed by an understanding of model risk, the Federal Reserve should design and implement a process for the Board and senior staff to articulate tolerance levels for key risks identified through sensitivity testing and for the degree of uncertainty in the projected capital ratios.
Open

In January 2019, the Federal Reserve said it had previously initiated a project to respond to our recommendation. In April 2021, Federal Reserve staff told us that the project work continued and that the completion of related projects to test and document the sensitivity and uncertainty of post-stress capital ratios would assist in its efforts to fully implement this recommendation. We will continue to monitor the Federal Reserve's completion and implementation of this project, and will update the status of this recommendation once we receive documentation demonstrating the completion of

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