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GGD-81-13 1 (1981-01-02)

handle is hein.gao/gaobabblo0001 and id is 1 raw text is: /4I1


BY THE COMPTROLLER GENERAL


Report To The Congress

OF THE UNITED STATES


Examinations Of Financial Institutions

Do Not Assure Compliance With

Consumer Credit Laws


Financial regulatory agencies' programs for en-
forcing consumer credit protection laws were
inconsistent and, for the substantive aspects
of some laws, inadequate. As a result, con-
sumers have not been assured consistent pro-
tection, and financial institutions have not
been treated equally.

GAO recommends that regulators modify their
programs to emphasize the substantive princi-
ples of consumer credit laws. Regulators should
reassess the objectives of compliance examina-
tions, continue plans to recruit and train spe-
cialized examiners, adopt uniform detailed
examination procedures, and establish uniform
standards for enforcing compliance with con-
sumer credit laws.


114168






















           GGD-81-13
      JANUARY 2, 1981


i1,1 I II


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