United States Government Publishing Office publisher pbl distributor dst United States Government Accountability Office Office of Special Investigations author aut Government Organization text government publication eng GAOREPORTS Legislative Agency Publications gao legislative 2010-08-12 U.S. Government Printing Office 1994-10-03 monographic deposited born digital 28 p. GA 1.13:OSI-95-1 https://www.govinfo.gov/app/details/GAOREPORTS-OSI-95-1 P0b002ee180377962 f:os95001 DGPO 2010-08-12 2011-03-23 GAOREPORTS-OSI-95-1 machine generated eng fdlp REPORT GAOREPORTS-OSI-95-1 OSI-95-1 Insured commercial banks Fraud Personnel evaluation systems Bank failures Internal controls Risk management Bank holding companies Liability (legal) Savings and loan associations Data bases Letter Report OSI The Resolution Trust Corporation (RTC) and the Federal Deposit Insurance Corporation (FDIC) may not always know when they are about to hire, or already employ, someone whom either RTC or FDIC has found to be responsible for the losses that caused a federally insured financial institution to fail. Neither agency systematically screens job applicants or workers to determine their culpability in financial institution failures. Their inability to make informed decisions on the hiring or duties of such persons increases FDIC's vulnerability to fraud, abuse, or mismanagement. Further, although RTC will transfer its assets and operations to FDIC when RTC closes down at the end of 1995, GAO believes that both agencies need to respond to the findings of this report as they prepare for the upcoming transition. Despite the dwindling number of institutions now in conservatorship, the vulnerability of any failed thrift to culpable individuals will remain a concern as long as conservatorship is a resolution option. https://www.govinfo.gov/content/pkg/GAOREPORTS-OSI-95-1/html/GAOREPORTS-OSI-95-1.htm https://www.govinfo.gov/content/pkg/GAOREPORTS-OSI-95-1/pdf/GAOREPORTS-OSI-95-1.pdf GAO/OSI-95-1 https://www.govinfo.gov/app/details/GAOREPORTS-OSI-95-1 Letter Report GAO/OSI-95-1; Failed Financial Institutions: RTC/FDIC Risk Fraud and Mismanagement by Employing Those Deemed Culpable; Insured commercial banks Fraud Personnel evaluation systems Bank failures Internal controls Risk management Bank holding companies Liability (legal) Savings and loan associations Data bases