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Open Recommendations

Bankruptcy: Enhanced Authority Could Strengthen Oversight of Executive Bonuses Awarded Before a Bankruptcy Filing

GAO-21-104617
Sep 30, 2021
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1 Open Recommendations
Agency Affected Recommendation Status
Congress Congress should consider amending the U.S. Bankruptcy Code to clearly subject bonuses debtors pay executives shortly before a bankruptcy filing to bankruptcy court oversight and to specify factors courts should consider to approve such bonuses. (Matter for Consideration 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

National Credit Union Administration: Additional Actions Needed to Strengthen Oversight

GAO-21-434
Sep 23, 2021
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3 Open Recommendations
Agency Affected Recommendation Status
National Credit Union Administration The Executive Director should consider how to more fully leverage the information content from CAMEL component ratings into its composite ratings and informal and formal enforcement decisions, and update NCUA's policies and procedures, as appropriate. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
National Credit Union Administration The Executive Director should take steps to improve the accuracy and reliability of supervisory data, such as by implementing the Modern Examination and Risk Identification Tool to readily aggregate supervisory data and incorporating all relevant data into the tool, including past administrative or enforcement actions. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
National Credit Union Administration The Executive Director should document which NCUA office is responsible for ensuring completion of post mortem reports in the time frame required under NCUA policies and procedures and a process for compliance reviews by that office. (Recommendation 3)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Federal Debt Management: Treasury Quickly Financed Historic Government Response to the Pandemic and is assessing Risks to Market Functioning

GAO-21-606
Aug 17, 2021
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1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should clarify the department's policy for managing the operating cash balance to include all relevant factors it considers when determining the appropriate cash balance and communicate the policy to the public. (Recommendation 1)
Open
Treasury agreed with our recommendation and said it would work to improve transparency and implement the recommendation. We are monitoring Treasury's debt management actions and communications and will provide updates as they are available.

National Flood Insurance Program: Congress Should Consider Updating the Mandatory Purchase Requirement

GAO-21-578
Jul 30, 2021
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3 Open Recommendations
Agency Affected Recommendation Status
Federal Emergency Management Agency The Deputy Associate Administrator of FEMA's Federal Insurance and Mitigation Administration should determine what information is available—both internally and externally—related to the mandatory purchase requirement, and use it to develop strategies for increasing consumer participation in the flood insurance market. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Federal Emergency Management Agency The Deputy Associate Administrator of FEMA's Federal Insurance and Mitigation Administration should evaluate and report to Congress with recommendations on how comprehensive and up-to-date flood risk information could be used to determine which properties should be subject to the mandatory purchase requirement. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Congress Congress should consider requiring FEMA to evaluate how comprehensive and up-to-date flood risk information could be used to determine which properties should be subject to the mandatory purchase requirement and report to Congress with recommendations, if any, on revising the requirement. (Matter for Consideration 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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