GAO’s reports and testimonies give Congress, federal agencies, and the public timely, fact-based, non-partisan information that can improve government operations and save taxpayers billions of dollars.
What GAO Found The Paycheck Protection Program (PPP) supports small businesses through forgivable loans for payroll and other eligible costs. Early lending favored larger and rural businesses, according to GAO's analysis of Small Business Administration (SBA) data.
What GAO Found Based on GAO analysis of 2014 and 2016 data from the Federal Deposit Insurance Corporation (FDIC), National Credit Union Administration, Federal Financial Institutions Examination Council, and Census, low- and moderate-income (LMI) communities have at least as many banks and credit unions...
What GAO Found To carry out its statutory responsibilities, the Consumer Financial Protection Bureau (CFPB) has collected consumer financial data on credit card accounts, mortgage loans, and other products through one-time or ongoing collections.
Unlike state and local governments, Indian tribal governments are in general restricted to using tax-exempt bonds for activities that are an "essential government function," where "essential government function" does not include functions not customarily performed by state and local governments.
Established in 1994, the Department of the Treasury's Bank Enterprise Award (BEA) program provides cash awards to banks that increase their investments in community development financial institutions (CDFI) and lending in economically distressed communities.
GAO reported on international efforts to harmonize capital standards for securities firms and for banks' securities activities, focusing on the implications of those harmonization efforts for U.S. capital standards.