April 2007 GAO Report

Selected Issues Concerning Banking Activities

In September 2006, Congressman Bernie Sanders of Vermont requested that the Government Accountability Office conduct a study of "(1) selected federal expenditures, policies, and programs that affect the U.S. banking industry and (2) certain banking industry trends."

In an April 30 letter to now Senator Sanders, the GAO responded with information on a number of benefits, expenditures and tax preferences the federal government provides the banking industry as well as information on recent trends in bank profitability and CEO compensation.

CUNA has prepared a number of documents on this GAO report:

• Full GAO letter to Senator Sanders
• Overview of Findings
  A very brief summary of the GAO's findings.
  (Printable PDF version)
• CUNA's Summary of the GAO Report.
  A more in-depth description and analysis of the GAO's report.
  (Printable PDF version.)

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