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Business Regulation and Consumer Protection (11 - 20 of 1,302 items)
Small Business Research Programs: Agencies Have Improved Compliance with Spending and Reporting Requirements, but Challenges Remain
GAO-16-492: Published: May 26, 2016. Publicly Released: May 26, 2016.
Agency data indicate that 9 of the 11 agencies participating in the Small Business Innovation Research (SBIR) program and 4 of the 5 agencies participating in the Small Business Technology Transfer (STTR) program complied with spending requirements in fiscal year 2014. One agency—the Department of Agriculture (USDA)—had extramural R&D obligations greater than $1 billion, but did not implement...
Nonbank Mortgage Servicers: Existing Regulatory Oversight Could Be Strengthened [Reissued on April 14, 2016]
GAO-16-278: Published: Mar 10, 2016. Publicly Released: Apr 11, 2016.
The share of home mortgages serviced by nonbanks increased from approximately 6.8 percent in 2012 to approximately 24.2 percent in 2015 (as measured by unpaid principal balance). However, banks continued to service the remainder (about 75.8 percent). Some market participants GAO interviewed said nonbank servicers' growth increased the capacity for servicing delinquent loans, but they also noted ch...
Resolution Plans: Regulators Have Refined Their Review Processes but Could Improve Transparency and Timeliness
GAO-16-341: Published: Apr 12, 2016. Publicly Released: Apr 12, 2016.
The Federal Deposit Insurance Corporation (FDIC) and Federal Reserve System (Federal Reserve) have developed separate but similar review processes for determining whether a resolution plan is “not credible” or would not facilitate a company's orderly resolution under the Bankruptcy Code (the Code). Both regulators have processes for staffing review teams, determining whether a plan includes al...
Local Media Advertising: FCC Should Take Action to Ensure Television Stations Publicly File Advertising Agreements
GAO-16-349: Published: Mar 10, 2016. Publicly Released: Apr 11, 2016.
Agreements among station owners allowing stations to jointly sell advertising—known as “joint sales agreements”—are mostly in smaller markets and include provisions such as the amount of advertising time sold and how stations share revenue. Some of these agreements also included provisions typical of other types of sharing agreements. The Federal Communications Commission (FCC) requires ea...
Financial Regulation: Complex and Fragmented Structure Could Be Streamlined to Improve Effectiveness
GAO-16-175: Published: Feb 25, 2016. Publicly Released: Mar 28, 2016.
The U.S. financial regulatory structure is complex, with responsibilities fragmented among multiple agencies that have overlapping authorities. As a result, financial entities may fall under the regulatory authority of multiple regulators depending on the types of activities in which they engage (see figure on next page). While the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Fr...
HUBZone Program: Actions Taken on February 2015 GAO Recommendations
GAO-16-423R: Published: Mar 24, 2016. Publicly Released: Mar 24, 2016.
As of March 8, 2016, the Small Business Administration (SBA) had taken some actions to address but had not fully implemented the two recommendations GAO made in February 2015 to address weaknesses in SBA’s oversight of the Historically Underutilized Business Zone (HUBZone) program. The program provides federal contracting preferences to small businesses located in HUBZone areas that also employ...
Alaska Native Corporations: Oversight Weaknesses Continue to Limit SBA's Ability to Monitor Compliance with 8(a) Program Requirements
GAO-16-113: Published: Mar 21, 2016. Publicly Released: Mar 21, 2016.
GAO has reported in the past that the Small Business Administration's (SBA) ability to enforce regulations prohibiting the award of follow-on, sole-source contracts to 8(a) subsidiary firms of the same Alaska Native Corporation (ANC) relies on contract information from other federal agencies that is sometimes incomplete. SBA's regulations prohibit program participants from receiving an 8(a) sole-s...
Supply Chain Risks: SEC's Plans to Determine If Additional Action Is Needed on Climate-Related Disclosure Have Evolved
GAO-16-211: Published: Jan 6, 2016. Publicly Released: Feb 8, 2016.
Companies may disclose climate-related supply chain risks under four broad categories of climate-related topics that the Securities and Exchange Commission (SEC) identified in its 2010 guidance as some of the ways companies may be impacted. These categories are impacts of legislation and regulation related to climate change; impact of international accords; indirect consequences of regulation or b...
Small Business Investment Companies: Characteristics and Investment Performance of Single and Multiple Licensees
GAO-16-107: Published: Jan 27, 2016. Publicly Released: Jan 27, 2016.
Small Business Investment Companies (SBIC) managed by entities holding multiple licenses controlled most Small Business Administration (SBA) leverage and shared similar characteristics with entities holding a single license. At the end of fiscal year 2014, multiple licensees controlled $5.2 billion of the $7 billion (about 74 percent) in outstanding debenture SBA leverage, compared to 2005, when t...
Small Business Administration: Leadership Attention Needed to Overcome Management Challenges
GAO-16-134T: Published: Jan 6, 2016. Publicly Released: Jan 6, 2016.
As GAO reported in September 2015, the Small Business Administration (SBA) has not resolved many of its long-standing management challenges due to a lack of sustained priority attention over time. Frequent turnover of political leadership in the federal government, including at SBA, has often made sustaining attention to needed changes difficult (see figure below). Senior SBA leaders have not prio...