Recommendations Database

Jump To:

As of January 31, 2023, there are 4840 open recommendations that still need to be addressed. 471 of these are priority recommendations, those that we believe warrant priority attention. Learn more about our priority designation on our Recommendations page.

Search for open recommendations by agency, topic, subject, or keyword/phrase below, or view all open recommendations by agency.

Skip to main search results
Clear All Filters
1 - 5 of 5 Recommendations, including 0 Priority Recommendations

Banking Services: Regulators Have Taken Actions to Increase Access, but Measurement of Actions' Effectiveness Could Be Improved

Show
1 Open Recommendations
Agency Recommendation Status
National Credit Union Administration The Chairman of NCUA should develop and implement outcome-oriented performance measures for its strategic objective of facilitating access to credit union services that reflect leading practices, including demonstrating results, measuring outcomes, and providing useful information for decision-making. (Recommendation 2)
Open

When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Privacy: Federal Financial Regulators Should Take Additional Actions to Enhance Their Protection of Personal Information

Show
1 Open Recommendations
Agency Recommendation Status
National Credit Union Administration The Executive Director of NCUA should define a process for documenting the actions NCUA takes to minimize collection and use of PII. (Recommendation 7)
Open

In August 2022, NCUA stated that its privacy team is conducting a review of the process of documenting steps to minimize collection and use of PII. We follow up with NCUA for further documentation once the review is complete.

National Credit Union Administration: Additional Actions Needed to Strengthen Oversight

Show
2 Open Recommendations
Agency Recommendation Status
National Credit Union Administration The Executive Director should consider how to more fully leverage the information content from CAMEL component ratings into its composite ratings and informal and formal enforcement decisions, and update NCUA's policies and procedures, as appropriate. (Recommendation 1)
Open

NCUA is currently in the process of updating its guidance and manuals related to the treatment of the components that comprise the Capital adequacy, Asset quality, Management, Earnings, Liquidity, and Sensitivity to Market (CAMELS) ratings. We will continue to monitor the progress and updates to NCUA's guidance and manuals concerning the treatment of the component CAMELS ratings.

National Credit Union Administration The Executive Director should take steps to improve the accuracy and reliability of supervisory data, such as by implementing the Modern Examination and Risk Identification Tool to readily aggregate supervisory data and incorporating all relevant data into the tool, including past administrative or enforcement actions. (Recommendation 2)
Open – Partially Addressed

NCUA has developed and implemented the Modern Examination and Risk Identification Tool (MERIT). As of December 31, 2021, examination staff were trained on MERIT and using the system for all new examinations and contacts. The Executive Director distributed a memo on August 31, 2021, on Quality Control for Audit Materials, which provided updated instructions to ensure a consistent protocol for ensuring the accuracy of retrieval and submission of data to OIG or external parties conducting a review of the NCUA. We also observed the MERIT User Guide, which provides instruction to staff on use of

Financial Technology: Additional Steps by Regulators Could Better Protect Consumers and Aid Regulatory Oversight

Show
1 Open Recommendations
Agency Recommendation Status
National Credit Union Administration The Chairman of the National Credit Union Administration should formally evaluate the feasibility and benefits to their regulatory capacities of adopting certain knowledge-building initiatives related to financial innovation. (Recommendation 15)
Open

NCUA officials told us that, as of November 2019, the internal working group that the agency established in August 2018 was evaluating the feasibility and benefits of adopting certain knowledge-building initiatives related to financial innovation. Specifically, the working group was assessing initiatives such as stakeholder outreach, research and collaboration opportunities, grants and other technical assistance, and existing supervisory tools. In July 2020, NCUA published a request for information in the Federal Register asking for input on strategies for future examination and supervision

Have a Question about a Recommendation?

For questions about a specific recommendation, contact the person or office listed with the recommendation. For general information about recommendations, contact GAO's Audit Policy and Quality Assurance office at (202) 512-6100 or apqa@gao.gov.