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 In April 2019, GAO identified 25 priority recommendations for the Department of the Treasury (Treasury). Since then, Treasury has implemented 4 of those recommendations by, among other things, reducing the need for significant adjustments to federal entity data for preparing U.S.
What GAO Found In April 2019, GAO identified 2 priority recommendations for the Federal Deposit Insurance Corporation (FDIC). Since then, FDIC has implemented none of those recommendations. In April 2020, GAO identified 1 additional priority recommendation for FDIC, bringing the total number to 3.
What GAO Found In April 2019, GAO identified 10 priority recommendations for the Board of Governors of the Federal Reserve System (Federal Reserve). Since then, the Federal Reserve has implemented 3 of those recommendations.
What GAO Found Of the 37 recommendations made to the agencies under this mandate, the agencies have taken actions to implement 32, and some agencies have not taken actions to fully implement five recommendations, as of October 15, 2019.
What GAO Found To comply with the Regulatory Flexibility Act (RFA), agencies generally must assess the rule's potential impact on small entities and consider alternatives that may minimize any significant economic impact of the rule (regulatory flexibility analyses).
What GAO Found Federal financial regulators reported conducting the required regulatory analyses for rules issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) as part of the rulemaking process.
What GAO Found During its audit of the Consumer Financial Protection Bureau’s (CFPB) fiscal years 2015 and 2014 financial statements, GAO identified deficiencies in CFPB’s internal control over accounting for property, equipment, and software that collectively constituted a significant deficiency...
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.