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The financial services industry is increasingly dependent on technology. We looked at factors affecting women's participation in STEM degree programs and their subsequent interest in financial services industry careers.
Since 2018, the Home Mortgage Disclosure Act requires lenders to report additional data from loan applications and originations—such as borrower credit scores—to help regulators oversee and enforce fair lending laws.
Some criminal groups use a process called trade-based money laundering to launder their illicit money. These schemes can include things like falsely describing goods and services in trade transactions.
Banks are required to report suspicious financial transactions to the Treasury Department.
The technology that allows Bitcoin and other cryptocurrencies to function could profoundly change the way government and industry do business. Distributed ledger technology allows the secure transfer of digital assets without management by a central authority.
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...
The U.S. retirement system, and the workers and retirees it was designed to help, face major challenges. Traditional pensions have become much less common, and individuals are increasingly responsible for planning and managing their own retirement savings accounts, such as 401(k) plans.
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.