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      Recent Reports
    Federal Home Loan Banks: Actions Related to the Spring 2023 Bank FailuresGAO-24-106957
      
	Published:  Mar 08, 2024


	Publicly Released: Apr 08, 2024
          Anti-Money Laundering: Better Information Needed on Effectiveness of Federal EffortsGAO-24-106301
      
	Published:  Feb 08, 2024


	Publicly Released: Mar 11, 2024
          Bank Supervision: More Timely Escalation of Supervisory Action NeededGAO-24-106974
      
	Published:  Mar 06, 2024


	Publicly Released: Mar 06, 2024
          Financial Audit: Federal Deposit Insurance Corporation Funds' 2023 and 2022 Financial StatementsGAO-24-106490
      
	Published:  Feb 22, 2024


	Publicly Released: Feb 22, 2024
          Financial Technology: SEC Should Prepare a Workforce Plan, Document Oversight Controls, and Set Goals for Innovation OfficeGAO-24-106635
      
	Published:  Dec 15, 2023


	Publicly Released: Jan 16, 2024
          Federal Reserve Lending Programs: Status of Monitoring and Main Street Lending ProgramGAO-24-106482
      
	Published:  Dec 22, 2023


	Publicly Released: Dec 22, 2023
    
    

  
  View More ReportsOpen Recommendations
        Anti-Money Laundering: Better Information Needed on Effectiveness of Federal EffortsGAO-24-106301
      
						Mar 11, 2024
              Show
          3Open Recommendations

          Agency Affected
                                                  Recommendation
                                                  StatusDepartment of the Treasury
                                                                                        The Secretary of the Treasury should ensure that the Director of FinCEN develop and implement a communications plan to regularly inform Congress and the public in full about its progress implementing the Anti-Money Laundering Act of 2020. (Recommendation 1)
                                                                                        Open
We will update the status of this recommendation when Treasury provides its 180-day letter, which is due in September 2024.Department of the Treasury
                                                                                        The Secretary of the Treasury should ensure that the Director of FinCEN work with its survey vendor to improve the reliability of the agency's annual customer satisfaction surveys and appropriately disclose survey data limitations when results are reported. (Recommendation 2)
                                                                                        Open
We will update the status of this recommendation when Treasury provides its 180-day letter, which is due in September 2024.Department of Justice
                                                                                        The Attorney General should lead an effort, in coordination with the Departments of Homeland Security and the Treasury, to develop a methodology for producing government-wide data on the outcomes of anti-money laundering investigations. This effort could be conducted in conjunction with the interagency working group DOJ was directed to form in the joint explanatory statement accompanying its fiscal year 2023 appropriation. (Recommendation 3)
                                                                                        Open
DOJ agreed with our recommendation. We will update the status of this recommendation when DOJ provides its 180-day letter, which is due in September 2024.
          Bank Supervision: More Timely Escalation of Supervisory Action NeededGAO-24-106974
      
						Mar 06, 2024
              Show
          2Open Recommendations

          Agency Affected
                                                  Recommendation
                                                  StatusCongress
                                                                                        Congress should consider requiring the adoption of noncapital triggers that require early and forceful regulatory actions tied to unsafe banking practices before they impair capital, such as by amending the Federal Deposit Insurance Act to incorporate noncapital triggers into the prompt corrective action framework. (Matter for Consideration 1)
                                                                                        Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.Board of Governors
                                                                                        The Chair of the Federal Reserve Board of Governors should ensure that the Director of the Division of Supervision and Regulation revise its procedures on when to escalate supervisory concerns to informal or formal enforcement actions to be clearer and more specific and to include measurable criteria. (Recommendation 1)
                                                                                        Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
          Financial Technology: SEC Should Prepare a Workforce Plan, Document Oversight Controls, and Set Goals for Innovation OfficeGAO-24-106635
      
						Jan 16, 2024
              Show
          3Open Recommendations

          Agency Affected
                                                  Recommendation
                                                  StatusUnited States Securities and Exchange Commission
                                                                                        The Chair of SEC should ensure that the Chief Human Capital Officer prepares a new workforce planning strategy that is aligned with the agency's 2022–2026 strategic and performance plans. (Recommendation 1)
                                                                                        Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.United States Securities and Exchange Commission
                                                                                        The Chair of SEC should ensure that the Director of the Strategic Hub for Innovation and Financial Technology document its policies and procedures supporting its internal controls. (Recommendation 2)
                                                                                        Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.United States Securities and Exchange Commission
                                                                                        The Chair of SEC should ensure that the Director of the Strategic Hub for Innovation and Financial Technology develop performance goals and measures that are objective, measurable, and targeted. (Recommendation 3)
                                                                                        Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
          Financial Technology: Agencies Can Better Support Workforce Expertise and Measure the Performance of Innovation OfficesGAO-23-106168
      
						Oct 06, 2023
              Show
          12Open Recommendations

          Agency Affected
                                                  Recommendation
                                                  StatusConsumer Financial Protection Bureau
                                                                                        The Director of the Consumer Financial Protection Bureau should fully incorporate leading workforce planning practices in the primary offices involved in policymaking and oversight related to financial technology by conducting strategic workforce planning that addresses financial technology; collecting staff skillset data and determining the critical financial technology skills the agency needs; developing targeted strategies to address financial technology-related skills gaps; and measuring the effectiveness of its financial technology-related training in addressing skill needs. (Recommendation 1)
                                                                                        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 the Consumer Financial Protection Bureau should develop performance goals and measures for CFPB's Office of Competition and Innovation that cover key aspects of the office's activities, such as outreach to industry participants, and that are clear, targeted, and measureable. (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 the Consumer Financial Protection Bureau should develop performance measures that are specific to its strategic objectives related to supervisory technologies. (Recommendation 3)
                                                                                        Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.Federal Deposit Insurance Corporation
                                                                                        The Chair of the Federal Deposit Insurance Corporation should fully incorporate leading workforce planning practices for the primary offices involved in policymaking and oversight related to financial technology by collecting staff skillset data and determining the critical financial technology skills the agency needs; developing targeted strategies to address financial technology-related skills gaps; and measuring the effectiveness of its financial technology-related training in addressing skill needs. (Recommendation 4)
                                                                                        Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.Federal Reserve System
                                                                                        The Chair of the Board of Governors of the Federal Reserve System should fully incorporate leading workforce planning practices in the primary offices involved in policymaking and oversight related to financial technology by collecting staff skillset data and determining the critical financial technology skills the agency needs; developing targeted strategies to address financial technology-related skills gaps; and measuring the effectiveness of its financial technology training in addressing skill needs. (Recommendation 5)
                                                                                        Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.Federal Reserve System
                                                                                        The Chair of the Board of Governors of the Federal Reserve System should develop performance measures that are specific to its strategic objectives related to supervisory technologies. (Recommendation 6)
                                                                                        Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
    
    

  
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