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Open Recommendations (102 total)

Financial Literacy: Better Outcome Reporting Could Facilitate Oversight of Programs for Older Adults and People with Disabilities

GAO-24-106381
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1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury, as chair of the Financial Literacy and Education Commission, should coordinate with the vice chair and agencies represented on the Commission to encourage the ongoing collection of data on financial literacy program outcomes and include these data in the Commission's annual report to Congress. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Foreign Investment in the U.S.: Efforts to Mitigate National Security Risks Can Be Strengthened

GAO-24-107358
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4 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury, as CFIUS's chair, should work with member agencies to establish a committee-wide process to regularly discuss and coordinate the staffing levels needed to address the projected increase in workload associated with monitoring and enforcing CFIUS mitigation agreements. (Recommendation 5)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of the Treasury The Secretary of the Treasury should document Treasury's objectives for increasing its staff for monitoring and enforcing compliance with CFIUS mitigation agreements. (Recommendation 3)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of the Treasury The Secretary of the Treasury, as CFIUS's chair, should work with member agencies to document a committee-wide process for considering and making timely decisions on enforcement actions related to mitigation agreements. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.
Department of the Treasury The Secretary of the Treasury should, once the targeted staffing increase is completed, analyze its CFIUS monitoring and enforcement staffing in accordance with federal workforce planning guidance, to determine the extent to which the targeted increase enables Treasury to achieve its documented objectives. (Recommendation 4)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Foreign Investment in the U.S.: Efforts to Mitigate National Security Risks Can Be Strengthened

GAO-24-107358
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1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury, as CFIUS's chair, should work with member agencies to document a committee-wide process for periodically assessing the relevance of mitigation agreements and amending, phasing out, or terminating them when appropriate. (Recommendation 2)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Fraud Risk Management: 2018-2022 Data Show Federal Government Loses an Estimated $233 Billion to $521 Billion Annually to Fraud, Based on Various Risk Environments

GAO-24-105833
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1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury, in consultation with the Office of Management and Budget, should establish an effort to evaluate and identify methods to expand government-wide fraud estimation to support fraud risk management. This effort should (1) initially prioritize program areas at increased risk of fraud; (2) be responsive to changes in the availability or quality of data; and (3) leverage data-analytics capabilities, such as within the Office of Payment Integrity, which includes the Do Not Pay program. (Recommendation 3)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Economic Development: Additional Training Could Help Small Lenders Implement Technology

GAO-24-106226
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1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should ensure that the Director of the CDFI Fund develops training or other materials for improving CDFIs' technology capacity. These resources should address the specific capacity limitations of and challenges faced by CDFIs, particularly smaller institutions. (Recommendation 1)
Open
When we confirm what actions the agency has taken in response to this recommendation, we will provide updated information.

Anti-Money Laundering: Better Information Needed on Effectiveness of Federal Efforts

GAO-24-106301
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1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should ensure that the Director of FinCEN work with its survey vendor to improve the reliability of the agency's annual customer satisfaction surveys and appropriately disclose survey data limitations when results are reported. (Recommendation 2)
Open
We will update the status of this recommendation when Treasury provides its 180-day letter, which is due in September 2024.

Anti-Money Laundering: Better Information Needed on Effectiveness of Federal Efforts

GAO-24-106301
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1 Open Recommendations
Agency Affected Recommendation Status
Department of the Treasury The Secretary of the Treasury should ensure that the Director of FinCEN develop and implement a communications plan to regularly inform Congress and the public in full about its progress implementing the Anti-Money Laundering Act of 2020. (Recommendation 1)
Open
We will update the status of this recommendation when Treasury provides its 180-day letter, which is due in September 2024.
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