Financial statements at the federal consumer financial protection agency are presented fairly and internal controls are effective, the congressional watchdog reported Friday in its annual, statutorily required financial audit of the agency. The Government Accountability […]
A final cost of $32.4 billion is estimated for the fund that was established in 2008 to help prevent the U.S. financial system’s collapse as the financial crisis reached its zenith, the congressional watchdog said […]
Three “guidance” letters issued as long ago as 2011 are rules under the purposes of the Congressional Review Act (CRA) and thus are subject for consideration to be overturned by Congress, the congressional watchdog said […]
The inspector general office of the federal bank deposit insurance agency, operating despite its most recent funding lapse and using funds from the deposit insurance fund, violated both the Antideficiency Act and the purpose statute […]
Four recommendations – including for regular feedback – on improving communications about how anti-money laundering (AML) devices such as suspicious activity reports (SARs) are used by federal regulators were made by the congressional watchdog in […]
Clear communication from the Consumer Financial Protection Bureau (CFPB) and the federal banking regulators on appropriate use of alternative data in the underwriting process would bring fintech lenders greater certainty about their compliance with fair […]
Four of the five federal financial institution regulators are named as in compliance with requirements that they report on inflation adjustments to civil money penalties (CMP), according to a Government Accountability Office (GAO) report issued […]
Expectations about reasonable procedures for assuring maximum possible accuracy, and reasonable investigations of consumer disputes, should be communicated to consumer reporting agencies (CRAs) by the federal consumer financial protection agency, the congressional watchdog said in […]
The congressional watchdog is taking a close look at the federal rulemaking process, including by sending a first-ever survey to more than 10,000 rule commenters, the agency said Thursday. In a release, the Government Accountability […]
Under the category of “things could be worse,” the congressional watchdog Tuesday issued a report listing the top 10 federal agencies in dire need of modernization plans for their “critical legacy” information systems – but […]
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