Tag Archives: Government Accountability Office

It has been a challenging year for the CFPB so far. The Government Accountability Office just made it a little more challenging.

Why is Sen. Richard Shelby (R-Alabama), Chairman of the Senate Banking Committee, asking the Government Accountability Office to conduct further study on the activities of the Federal Housing Finance Agency?

Nonbank servicers are now servicing nearly a quarter of all residential mortgage loans in the country.

Fragmentation and overlap have resulted in inefficiencies and in inconsistent regulatory oversight, according to the Government Accountability Office.

The 82-page report, titled "Mortgage Reforms: Actions Needed to Help Assess Effects of New Regulations," was conducted by the GAO at the request of Congress amid concerns that risky mortgage products and poor underwriting standards were contributing factors to the housing crisis of 2008.

Investigators from HUD's Office of Inspector General (HUD OIG) and the Government Accountability Office (GAO) testified before the House Financial Services Subcommittee on Oversight and Investigations on Wednesday that some senior officials at HUD violated federal law and obstructed investigators' efforts to uncover wrongdoing.

Congressman Jeb Hensarling (R-Texas), Chairman of the Financial Services Committee, issued a statement on September 23 regarding the Government Accountability Office (GAO) report to the effect that he believes the Consumer Financial Protection Bureau (CFPB)'s data collection methods are intrusive and therefore not in consumers' best interests.