Skip to main content

Read our report on six communities’ experiences with pandemic funding and programs, which provides valuable lessons learned to improve federal emergency response programs.

X
Skip to list of reports Filters

Date Range

Report Type

Report Category

Submitting Agency

Agency Reviewed

Management Challenges

Any Recommendations

Reports

Search reports, investigative results, and agency plansShowing 1 - 7 of 7 results
Federal Reserve Board & CFPB OIG

Evaluation of the Paycheck Protection Program Liquidity Facility’s (PPPLF) Credit Extension Repayment and At-Risk Loan Monitoring Efforts

In response to the COVID-19 pandemic, the Board established the PPPLF to extend credit to financial institutions that originate loans through the U.S. Small Business Administration’s guaranteed Paycheck Protection Program (PPP), taking the PPP loans as collateral. The PPPLF, managed by the Federal Reserve Bank of Minneapolis and operated out of the 12 Federal Reserve Banks, distributed billions of dollars to eligible lenders. We will assess the effectiveness of internal controls to (1) determine lender eligibility, extend credit, and process repayments and (2) identify at-risk advances, handle instances of nonpayment, and detect and mitigate fraud. We also plan to assess the extent to which the Federal Reserve System coordinates with the U.S. Small Business Administration to determine lender eligibility, recover losses due to nonpayment, and detect and mitigate fraud.

Date Initiated: | Status of Work: Ongoing
Federal Reserve Board & CFPB OIG

The Board Has Effective Processes to Collect, Aggregate, Validate, and Report CARES Act Lending Program Data

Audit |

Pandemic Response Accountability Committee

BEST PRACTICES AND LESSONS LEARNED FROM THE ADMINISTRATION OF PANDEMIC RELATED UNEMPLOYMENT BENEFITS PROGRAMS

The Pandemic Response Accountability Committee (PRAC) is charged with conducting oversight of pandemic-related spending to prevent and detect fraud, waste, abuse, and mismanagement. In May 2021, we engaged MITRE, a not-for-profit federally funded research and development center, to conduct an independent study of lessons learned from the administration of pandemic-related emergency funding for unemployment insurance (UI) benefit programs in a sample of states. The objective of this study was to increase understanding of how states implemented pandemic UI benefit programs and how their...
Other |
Pandemic Response Accountability Committee

Key Insights: State Pandemic Unemployment Insurance Programs

This insights report provides a contextual understanding of the cross-cutting challenges states faced within their unemployment insurance (UI) programs and highlights the substantial work that has been done by State Auditors to ensure their states’ UI programs are functioning effectively. This report examines four common insights across 16 State Auditor Offices: (1) UI workloads surged for states; (2) the claims surge exploited internal control weaknesses; (3) uncommon and varying fraud schemes began to occur as the amount of federal funding expanded; and (4) state workforce agencies...
Other |
Treasury Inspector General for Tax Administration

Taxpayers Were Notified About the CARES Act Retirement Plan Provisions; However, Additional Actions Could Be Taken to Identify Potential Noncompliance

Audit |
Treasury Inspector General for Tax Administration

Assessment of Processes to Verify Tentative Carryback Refund Eligibility

Audit |

Treasury Inspector General for Tax Administration

Implementation of Economic Impact Payments

Audit |