Special Inspector General for TARP

Program Summary by Budget Activity

FY 2024 FTE will be funded by resources from No-year account carryover balance.

The Budget does not include a request for additional funds as SIGTARP has sufficient no-year

carryover balances to enable it to conclude orderly sunset activities in 2024.

Summary

The FY 2024 Budget does not include a request for additional funds as SIGTARP has sufficient

no-year carryover balances to enable it to conclude orderly sunset activities in 2024.

Since Congress created the Special Inspector General for the Troubled Asset Relief Program 

(SIGTARP) under the Emergency Economic Stabilization Act (EESA), SIGTARP has delivered 

for American taxpayers. As a law enforcement office, SIGTARP has a proven record of 

identifying and investigating fraud and other crime. SIGTARP investigations have resulted in the 

recovery of at least $11.3 billion, criminal prosecutions by the Department of Justice and others 

of 469 defendants—321 of them sentenced to prison, including 75 bankers. SIGTARP’s 

investigations have also resulted in enforcement actions against 25 corporations/entities, 

including enforcement actions against many of the largest U.S. financial institutions. As an 

independent watchdog, SIGTARP consistently identified fraud, waste, abuse, ineffectiveness, 

inefficiency, and risk in EESA programs, and brought transparency to EESA. 

Investigations

SIGTARP’s top law enforcement priority is to investigate and bring justice to unlawful conduct 

by financial institutions in EESA’s Home Affordable Modification Program (HAMP). Upon 

SIGTARP’s sunset, any open confidential cases related to HAMP, including cases being worked

in partnership with the Department of Justice, will be turned over to appropriate Federal agencies 

for completion.

Similarly, any open investigations in the Hardest Hit Fund, will be turned over to appropriate 

Federal agencies for completion upon SIGTARP sunset. This may include closure of 

investigations of fraud and environmental/safety crimes such as illegal dumping, asbestos 

exposure, or contaminated dirt used in demolitions of blighted properties. During its tenure,

Dollars in Thousands

$ Change % Change

Investigations $13,665 $7,850 $0 ($7,850) -100%

Audits $2,335 $1,150 $0 ($1,150) -100%

Subtotal, SIGTARP $16,000 $9,000 $0 ($9,000) -100%

Resources from No Year Account $3,000 $7,500 $5,700 ($9,000) -120%

Total Program Operating Level $3,000 $7,500 $5,700 ($9,000) -120%

Total Budgetary Resources $19,000 $16,500 $5,700 ($18,000) -109%

Direct FTE 43 35 12 (23) -66%

Total Full-time Equivalents (FTE) 43 35 12 (23) -66%

FY 2023 to FY 2024

Budget Activity FY 2022 

Operating Plan

FY 2023 

Operating Plan

FY 2024 

Request
SIGTARP has had a long-standing record of finding fraud, environmental/safety crimes, and

corruption in this program. 

Audit

SIGTARP audits ensure that EESA programs operated effectively and efficiently, that federal 

dollars were used as Congress intended, and that the government did not pay more for EESA 

than was necessary. All final audit products will be complete in FY 2023.

Budget Highlights

The FY 2024 Budget does not include a request for additional funds as SIGTARP has sufficient

no-year carryover balances to enable it to conclude orderly sunset activities in 2024.

Performance Highlights

FY 2020 FY 2021 FY 2022 FY 2023 FY 2024

Budget Activity Performance Measure Actual Actual Actual Target Target

Investigations

% of Cases Accepted for Consideration by 

Civil or Criminal Authorities Resulting in a 

Positive Final Outcome

77 77 75 50 0

Investigations

% of Cases Presented to Civil or Criminal 

Authorities within Eight Months of Being 

Opened

75 71 80 70 0

Investigations

% of Cases That are Joint Agency/Task 

Force Investigations 86 90 75 70 0

Audit

Number of Completed Audit Products 

Identifying Waste, Abuse, 

Mismanagement, Inefficiencies, or 

Referrals to Investigations Division (units)

4 3 3 2 0

Description of Performance

SIGTARP met all metric targets in FY 2022. The “Percentage of Cases Accepted for 

Consideration by Civil or Criminal Authorities Resulting in a Positive Final Outcome” in

FY 2022 was 75 percent; the “Percentage of Cases Presented to Civil or Criminal Authorities 

within Eight Months of the Case Being Opened” was 80 percent; the “Percentage of Cases that 

are Joint Agency/Task Force Investigations” with other law enforcement agencies was 75

percent. In addition, SIGTARP met its FY 2022 audit performance target with three products.