With lawmakers weighing changes to Bank Secrecy Act requirements, the Government Accountability Office urged the Financial Crimes Enforcement Network to establish written policies for expanding use of the agency’s database. ... Read full article
The Government Accountability Office determined that three Obama-era letters from the central bank related to large-bank supervision should have been submitted for congressional review. ... Read full article
The Federal Housing Administration should monitor reverse mortgage servicers more closely and track related data that would shed light on a rise in defaults, according to a Government Accountability Office report. ... Read full article
The watchdog and three Democratic lawmakers urged the agencies to stop using knowledge-based verification methods to grant access to their online portals. ... Read full article
Lawmakers from both parties oppose a Small Business Administration proposal to raise guarantee fees. The clash could lead to a halt in operations this fall. ... Read full article
A report identified gaps in documentation and other weaknesses that the watchdog said heighten the risk of agency officials being too cozy with the institutions they supervise. ... Read full article
Community bankers reject the conclusions of a Government Accountability Office report that say regulatory burdens only had a “modest effect” on the declining number of banks since 2010. ... Read full article
In a report, the watchdog said the economic environment and competition instead have driven trends in small business lending. ... Read full article
A whistleblower charges that during the Obama administration, Treasury's Office of Financial Research manipulated information that it provided during a review by the Governmental Accountability Office. ... Read full article
The central bank should take new steps to ensure that examiners do not become too cozy with the big banks they supervise, a government watchdog said. ... Read full article
A GAO determination has effectively nullified a 2013 leveraged lending guidance. But that leaves the future uncertain about what, if anything, regulators will devise to replace it — and how banks should treat such loans in the meantime. ... Read full article
Federal regulators’ 2013 guidance on leveraged lending should have been treated as a rule under the Congressional Review Act – and is now eligible for Congress to repeal, the Government Accountability Office said Thursday. ... Read full article
