Banking (1 - 10 of 37 items)
Dodd-Frank Regulations: Impacts on Community Banks, Credit Unions and Systemically Important Institutions
GAO-16-169: Published: Dec 30, 2015. Publicly Released: Dec 30, 2015.
Federal financial agencies conducted required regulatory analyses for rules issued pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) and also reported required coordination. These agencies also addressed key elements of Office of Management and Budget guidance for conducting cost-benefit analyses for rules considered major—rules likely to result in an ann...
Community Banks and Credit Unions: Impact of the Dodd-Frank Act Depends Largely on Future Rule Makings
GAO-12-881: Published: Sep 13, 2012. Publicly Released: Sep 13, 2012.
While the number of community banks and credit unions has declined in recent years, they have remained important lenders to small businesses and other local customers. From 1985 through 2010, the number of banks under $10 billion in assets and credit unions declined by over 50 percent to 7,551 and 7,339, respectively. The decline resulted largely from consolidations, which were facilitated by chan...
Bank Regulation: Modified Prompt Corrective Action Framework Would Improve Effectiveness
GAO-11-612: Published: Jun 23, 2011. Publicly Released: Jun 23, 2011.
More than 300 insured depository institutions have failed since the current financial crisis began in 2007, at an estimated cost of almost $60 billion to the deposit insurance fund (DIF), which covers losses to insured depositors. Since 1991, Congress has required federal banking regulators to take prompt corrective action (PCA) to identify and promptly address capital deficiencies at institutions...
Risk-Based Capital: Bank Regulators Need to Improve Transparency and Overcome Impediments to Finalizing the Proposed Basel II Framework
GAO-07-253: Published: Feb 15, 2007. Publicly Released: Feb 15, 2007.
Concerned about the potential impacts of the proposed risk-based capital rules, known as Basel II, Congress mandated that GAO study U.S. implementation efforts. This report examines (1) the transition to Basel II and the proposed changes in the United States, (2) the potential impact on the banking system and regulatory required capital, and (3) how banks and regulators are preparing for Basel II...
Minority Banks: GAO Survey of Minority Banks, an E-supplement to GAO-07-6
GAO-07-7SP: Published: Oct 4, 2006. Publicly Released: Oct 4, 2006.
This document presents the results of GAO's 2006 survey of minority banks for all respondents. The purpose of the survey was to collect information primarily on four federal banking regulators'--Federal Deposit Insurance Corporation (FDIC), Comptroller of the Currency, Office of Thrift Supervision (OTS), and the Federal Reserve--efforts to support minority banks and related regulatory issues. Of t...
Minority Banks: Regulators Need to Better Assess Effectiveness of Support Efforts
GAO-07-6: Published: Oct 4, 2006. Publicly Released: Oct 4, 2006.
Minority banks can play an important role in serving the financial needs of historically underserved communities and growing populations of minorities. For this reason, the Financial Institutions, Reform, Recovery, and Enforcement Act of 1989 (FIRREA) established goals that the Federal Deposit Insurance Corporation (FDIC) and the Office of Thrift Supervision (OTS) must work toward to preserve and...
OCC Consumer Assistance: Process Is Similar to That of Other Regulators but Could Be Improved by Enhanced Outreach
GAO-06-293: Published: Feb 23, 2006. Publicly Released: Mar 27, 2006.
In January 2004, the Office of the Comptroller of the Currency (OCC)--the federal regulator of national banks--issued rules concerning the extent to which federal law preempts state and local banking laws. Some state officials and consumer groups expressed concerns about a perceived loss of consumer protection. GAO identified (1) how OCC's complaint process compares with that of other federal bank...
Bank Tying: Additional Steps Needed to Ensure Effective Enforcement of Tying Prohibitions
GAO-04-3: Published: Oct 10, 2003. Publicly Released: Oct 20, 2003.
Investment affiliates of large commercial banks have made competitive inroads in the annual $1.3 trillion debt-underwriting market. Some corporate borrowers and officials from an unaffiliated investment bank have alleged that commercial banks helped their investment affiliates gain market share by illegally tying and underpricing corporate credit. This report discusses these allegations, the avail...
SEC and CFTC: Most Fines Collected, but Improvements Needed in the Use of Treasury's Collection Service
GAO-01-900: Published: Jul 13, 2001. Publicly Released: Jul 30, 2001.
Fines are one way for regulators to sanction those who violate securities and futures industry rules. However, for fines to be effective, regulators must collect them. This report reviews fine collection by the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC), and nine exchanges and industry associations that act as self-regulatory organizations (SRO) in th...
Year 2000 Computing Crisis: Federal Deposit Insurance Corporation's Efforts to Ensure Bank Systems Are Year 2000 Compliant
T-AIMD-98-73: Published: Feb 10, 1998. Publicly Released: Feb 10, 1998.
Pursuant to a congressional request, GAO discussed the progress being made by the Federal Deposit Insurance Corporation (FDIC) in ensuring that the thousands of banks it oversees are ready to handle the year 2000 computer conversion challenge.GAO noted that: (1) the year 2000 problem poses a serious dilemma for banks due to their heavy reliance on information systems; (2) it also poses a challenge...