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Consumer Protection: Actions Needed to Improve Complaint Reporting, Consumer Education, and Federal Coordination to Counter Scams
GAO-25-107088
Apr 08, 2025
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16 Open Recommendations
Agency Affected Recommendation Status
Federal Bureau of Investigation The Director of FBI should lead a U.S. government effort to develop and implement a government-wide strategy to counter scams and coordinate related activities. This effort should be done in collaboration with the Director of CFPB, the Chair of FTC, the Secretary of the Treasury, and other agencies, as appropriate (through their designees). This effort should address issues such as a common definition for scams; consumer complaint reporting; related types/granularity/aggregation of data, risks, and responses; a government-wide estimate of this type of crime; and coordination of federal and business activities. As appropriate, and consistent with desired characteristics, a strategy should also define agency roles, responsibilities, and authorities; identify necessary resources; and identify any legislative, regulatory, or administrative changes needed to enable a comprehensive, coordinated response. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Federal Trade Commission The Chair of FTC should, in collaboration with CFPB, FBI, and other major contributors, explore ways to harmonize data collection and contributions to Sentinel to better identify scams, such as consistently collecting data on scam type, dollar loss amount, payment method, and other data fields, as appropriate. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Consumer Financial Protection Bureau The Director of CFPB should, in collaboration with FTC, explore ways to harmonize data collection to better identify scams, such as consistently collecting data on scam type, dollar loss amount, payment method, and other data fields, as appropriate. (Recommendation 3)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Federal Bureau of Investigation The Director of FBI should, in collaboration with FTC, explore ways to harmonize data collection to better identify scams, such as consistently collecting data on scam type. (Recommendation 4)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Consumer Financial Protection Bureau The Director of CFPB should use the agency's data collection and analysis to produce and report an estimate of the number of complaints it receives and the associated financial losses resulting from scams. (Recommendation 5)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Federal Bureau of Investigation The Director of FBI should use the agency's data collection and analysis to produce and report an estimate of the number of complaints it receives and the associated financial losses resulting from scams. (Recommendation 6)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Small Business Pilot Program: SBA Has Opportunities to Evaluate Outcomes and Enhance Fraud Risk Mitigation
GAO-25-107067
Mar 27, 2025
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2 Open Recommendations
Agency Affected Recommendation Status
Small Business Administration The Administrator of SBA should complete an outcome evaluation of the Navigator Program. The evaluation should include an assessment of the scalability of lessons learned from pilot activities and incorporate input from a broad array of SBA staff and partner organizations. (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 should, for its competitive grant programs, implement procedures to obtain relevant information from district office staff with knowledge of applicants. In doing so, the SBA Administrator should consider the stage of the review at which staff should obtain such information, how staff should identify and address potential bias, and how to communicate relevant assessment criteria in notices of funding opportunities. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

COVID-19 Relief: Improved Controls Needed for Referring Likely Fraud in SBA's Pandemic Loan Programs
GAO-25-107267
Mar 24, 2025
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1 Open Recommendations
Agency Affected Recommendation Status
Small Business Administration The SBA Administrator should collaborate with the SBA's OIG to develop an effective plan, including the data elements to be provided and the process to be used, for referrals of potential or likely COVID-19 EIDL fraud cases. (Recommendation 1)
Open
In March 2024, in its comment letter on the report, SBA agreed with the recommendation and noted that it has worked with SBA OIG to put an effective process in place. SBA's comment letter further noted that SBA will provide GAO with evidence of the efforts taken to put the plan in place. We will review this evidence once provided and will continue to monitor SBA's efforts in this area.

Bank Regulation: Agencies Should Finalize Rulemaking on Incentive Compensation
GAO-25-107032
Feb 20, 2025
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6 Open Recommendations
Agency Affected Recommendation Status
Federal Reserve System The Board of Governors of the Federal Reserve System should jointly prescribe regulations or guidelines with the five other agencies that are directed to implement Section 956 of the Dodd-Frank Act, as soon as practicable. (Recommendation 1)
Open
As of December 2025, the six agencies have not issued a joint rulemaking to address Section 956 of the Dodd-Frank Act.
Federal Deposit Insurance Corporation The Board of Directors of the Federal Deposit Insurance Corporation should jointly prescribe regulations or guidelines with the five other agencies that are directed to implement Section 956 of the Dodd-Frank Act, as soon as practicable. (Recommendation 2)
Open
As of December 2025, the six agencies have not issued a joint rulemaking to address Section 956 of the Dodd-Frank Act.
Federal Housing Finance Agency The Director of the Federal Housing Finance Agency should jointly prescribe regulations or guidelines with the five other agencies that are directed to implement Section 956 of the Dodd-Frank Act, as soon as practicable. (Recommendation 3)
Open
As of December 2025, the six agencies have not issued a joint rulemaking to address Section 956 of the Dodd-Frank Act.
National Credit Union Administration The Board of Directors of the National Credit Union Administration should jointly prescribe regulations or guidelines with the five other agencies that are directed to implement Section 956 of the Dodd-Frank Act, as soon as practicable. (Recommendation 4)
Open
As of December 2025, the six agencies have not issued a joint rulemaking to address Section 956 of the Dodd-Frank Act.
Office of the Comptroller of the Currency The Comptroller of the Currency should jointly prescribe regulations or guidelines with the five other agencies that are directed to implement Section 956 of the Dodd-Frank Act, as soon as practicable. (Recommendation 5)
Open
As of December 2025, the six agencies have not issued a joint rulemaking to address Section 956 of the Dodd-Frank Act.
United States Securities and Exchange Commission The Securities and Exchange Commission should jointly prescribe regulations or guidelines with the five other agencies that are directed to implement Section 956 of the Dodd-Frank Act, as soon as practicable. (Recommendation 6)
Open
In December 2025, SEC notified GAO of the administrative closure of the recommendation. The agency noted that it cannot independently implement Section 956 of the Dodd-Frank Act, and that this legal and operational constraint renders any unilateral action infeasible for the foreseeable future. SEC noted that it believes that corrective actions taken to date are sufficient and that no further action is required as of December 2025. Corrective actions SEC noted included the actions addressed in its April 2025 update; the inclusion of the planned joint regulation in SEC's Spring 2025 Unified Agenda of Regulatory and Deregulatory Actions; and SEC staff continuing to engage with counterparts at the other agencies, maintaining momentum toward joint rulemaking when practicable. GAO will continue to monitor actions on the joint rulemaking and update our status when the joint rulemaking has been completed.
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