Business Regulation and Consumer Protection

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Open Recommendations

COVID Relief: Fraud Schemes and Indicators in SBA Pandemic Programs
GAO-23-105331
May 18, 2023
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2 Open Recommendations
Agency Affected Recommendation Status
Small Business Administration The Administrator of SBA, in coordination with the Fraud Risk Management Board, should ensure that SBA has mechanisms in place and utilizes them to facilitate cross-program data analytics. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Small Business Administration The Administrator of SBA, in coordination with the Fraud Risk Management Board, should ensure that SBA has identified external sources of data that can facilitate the verification of applicant information and the detection of potential fraud across its programs. It should then develop a plan for obtaining access to those sources, which may involve pursuing statutory authority or entering into data-sharing agreement to obtain such access. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Federal Trade Commission: Actions Needed to Improve Education Efforts and Awareness of Complaint Process for Franchise Owners
GAO-23-105338
Apr 17, 2023
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3 Open Recommendations
Agency Affected Recommendation Status
Federal Trade Commission The Director of FTC's Bureau of Consumer Protection should enhance FTC's efforts to educate prospective franchisees on the importance of reviewing and understanding the franchise disclosure document and the franchise agreement. (Recommendation 1
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When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Federal Trade Commission The Director of FTC's Bureau of Consumer Protection should increase efforts to publicize FTC's consumer guide among prospective franchisees. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Federal Trade Commission The Director of FTC's Bureau of Consumer Protection should take steps to improve franchisees' awareness and understanding of FTC's complaint process. These steps could include expanding FTC's franchisee outreach and education efforts in this area and working with a variety of stakeholders to encourage reporting of complaints. (Recommendation 3)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Financial Technology: Products Have Benefits and Risks to Underserved Consumers, and Regulatory Clarity Is Needed
GAO-23-105536
Mar 08, 2023
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1 Open Recommendations
Agency Affected Recommendation Status
Consumer Financial Protection Bureau The Director of the Consumer Financial Protection Bureau should issue clarification on the application of the Truth in Lending Act's definition of "credit" for earned wage access products not covered by its November 2020 advisory opinion. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

State Small Business Credit Initiative: Improved Planning Could Help Treasury Limit Additional Delays
GAO-23-105293
Feb 02, 2023
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1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury Treasury's Chief Recovery Officer should fully incorporate best practices for project scheduling related to sequencing and establishing the duration of activities, assigning resources to activities, and updating the schedule using actual progress into its planning processes for the SSBCI program. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
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