Consumers (1 - 10 of 40 items)
Financial Audit: Bureau of Consumer Financial Protection's Fiscal Years 2016 and 2015 Financial Statements
GAO-17-138R: Published: Nov 15, 2016. Publicly Released: Nov 15, 2016.
GAO found (1) the Bureau of Consumer Financial Protection’s, known as the Consumer Financial Protection Bureau (CFPB), financial statements as of and for the fiscal years ended September 30, 2016, and 2015, are presented fairly, in all material respects, in accordance with U.S. generally accepted accounting principles; (2) although internal controls could be improved, CFPB maintained, in all mat...
Consumer Financial Protection Bureau: Observations from Small Business Review Panels
GAO-16-647: Published: Aug 10, 2016. Publicly Released: Aug 10, 2016.
The Consumer Financial Protection Bureau (CFPB) has taken steps to solicit, consider, and incorporate inputs from small entities into its rulemaking process, as required by the Regulatory Flexibility Act, as amended by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). GAO reviewed documents from the four Small Business Regulatory Enforcement Fairness Act (SBREFA) pane...
Internet Protocol Transition: FCC Should Strengthen Its Data Collection Efforts to Assess the Transition's Effects
GAO-16-167: Published: Dec 16, 2015. Publicly Released: Dec 16, 2015.
As the nation's telecommunications systems transition from legacy telephone networks to Internet Protocol (IP)-based networks, telecommunications carriers can face challenges during times of crisis that affect end users' ability to call 911 and receive emergency communications. These challenges include (1) preserving consumer service and (2) supporting existing emergency communications services an...
Lender-Placed Insurance: More Robust Data Could Improve Oversight
GAO-15-631: Published: Sep 8, 2015. Publicly Released: Sep 8, 2015.
Mortgage servicers purchase lender-placed insurance (LPI) for mortgages whose borrower-purchased insurance coverage lapses, most often because of nonpayment by the borrower or cancellation or nonrenewal by the original insurer. The limited information available indicates that LPI generally affects 1 percent to 2 percent of all mortgaged properties annually and has become less prevalent since the 2...
Accessible Communications: FCC Should Evaluate the Effectiveness of Its Public Outreach Efforts
GAO-15-574: Published: Jun 25, 2015. Publicly Released: Jun 25, 2015.
The Federal Communications Commission (FCC) established accessibility complaint and enforcement procedures within the time frames mandated by the 21st Century Communications and Video Accessibility Act of 2010 (CVAA) to ensure that people with disabilities would have access to advanced communications. FCC's complaint and enforcement procedures enable consumers to file (1) a pre-complaint Request f...
Health Care Transparency: Actions Needed to Improve Cost and Quality Information for Consumers
GAO-15-11: Published: Oct 20, 2014. Publicly Released: Nov 18, 2014.
Results obtained from two selected private consumer transparency tools GAO reviewed—websites with health cost or quality information comparing different health care providers—show that some providers are paid thousands of dollars more than others for the same service in the same geographic area, regardless of the quality of such services. For example, the cost for maternity care at selected ac...
Consumer Financial Protection Bureau: Opportunity Exists to Improve Transparency of Civil Penalty Fund Activities
GAO-14-551: Published: Jun 26, 2014. Publicly Released: Jul 28, 2014.
The Bureau of Consumer Financial Protection, also known as the Consumer Financial Protection Bureau (CFPB), has developed a process for administering the Consumer Financial Civil Penalty Fund (Civil Penalty Fund). CFPB deposits collected civil money penalties into the fund to compensate eligible victims and may also use the fund for the purpose of consumer education and financial literacy programs...
Consumer Finance: Credit Cards Designed for Medical Services Not Covered by Insurance
GAO-14-570: Published: Jun 19, 2014. Publicly Released: Jul 21, 2014.
Multiple entities offer medical credit cards, but according to market participants with whom GAO spoke, CareCredit LLC issues the majority of medical credit cards. In 2013, the company reported 4.4 million cardholders and 177,000 participating providers in its network, the majority of which were dental offices. Several other financial institutions also issue medical credit cards, usually offering...
Consumers' Location Data: Companies Take Steps to Protect Privacy, but Practices Are Inconsistent, and Risks May Not be Clear to Consumers
GAO-14-649T: Published: Jun 4, 2014. Publicly Released: Jun 4, 2014.
Fourteen mobile industry companies and 10 in-car navigation providers that GAO examined in its 2012 and 2013 reports—including mobile carriers and auto manufacturers with the largest market share and popular application developers—collect location data and use or share them to provide consumers with location-based services and improve consumer services. For example, mobile carriers and applica...
Information Resellers: Consumer Privacy Framework Needs to Reflect Changes in Technology and the Marketplace
GAO-14-251T: Published: Dec 18, 2013. Publicly Released: Dec 18, 2013.
No overarching federal privacy law governs the collection and sale of personal information among private-sector companies, including information resellers. Instead, laws tailored to specific purposes, situations, or entities govern the use, sharing, and protection of personal information. For example, the Fair Credit Reporting Act limits the use and distribution of personal information collected o...