Priority Open Recommendations: Office of the Comptroller of the Currency
| Report Type |
Reports and Testimonies |
| Report Date |
Aug. 8, 2023 |
| Release Date |
Aug. 8, 2023 |
| Report No. |
GAO-23-106940 |
Summary:
What GAO Found
In May 2022, GAO identified 1 priority recommendation for the Office of the Comptroller of the Currency (OCC), which was identified in a letter to Treasury.
As of July 2023, OCC had not implemented this priority recommendation and GAO identified 1 additional priority recommendation for OCC, bringing the total number to 2. These recommendations involve the following areas:
Blockchain technology
Financial technology
Fully implementing these open recommendations could significantly improve OCC's efforts to supervise and examine the operations of its chartered banks.
Why GAO Did This Study
Priority open recommendations are the GAO recommendations that warrant priority attention from heads of key departments or agencies because their implementation could save large amounts of money; improve congressional and/or executive branch decision-making on major issues; eliminate mismanagement, fraud, and abuse; or ensure that programs comply with laws and funds are legally spent, among other benefits. Since 2015, GAO has sent letters to selected agencies to highlight the importance of implementing such recommendations.
For more information, contact Daniel Garcia-Diaz at (202) 512-8678.
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