After studying the Office of the Comptroller of the Currency’s policies intended to mitigate the risk of “regulatory capture” issues impacting its mission, the Government Accountability Office (GAO) issued a list of nine recommendations for how the agency can better guard against potential internal conflicts of interest that lead to such issues.
GAO indicated it conducted its investigation based on a congressional request to review possible instances of regulatory capture – a term referring to when regulators act in the interest of the industry they’re regulating, rather than in service of the public good.
Find out more details about the report’s findings and recommendations.