Federal Reports

Today, the U.S. Consumer Product Safety Commission Office of Inspector General released their semiannual report for the reporting period ending March 31, 2025. The report is part of the semiannual requirement to communicate OIG oversight activities of the CPSC to Congress and the American people.

This report highlights our work initiated and completed from October 1, 2024, to March 31, 2025. During this period, we issued 5 investigative reports and 12 audit and evaluation reports.

This is an annual report to Congress regarding the U.S. Consumer Product Safety Commission’s (CPSC) efforts to prevent and protect trafficking victims in 2024 in accordance with the Trafficking Victims Prevention and Protection Reauthorization Act of 2022.

Our audit found that loan costs claimed by the RLF operators were not allowable, allocable, and reasonable. Specifically, we found that the four operators awarded 11 of the 19 loans (58 percent), totaling $4,020,050, to ineligible borrowers that did not meet the eligibility criteria in the operators’ respective RLF operational plan, and borrowers did not use the RLF funds for the purpose intended by the CARES Act. As a result, we are questioning $4,020,050 in loan funds. In addition, we found RLF operators with 20 percent or more loans that were delinquent, in default, or written off, and EDA did not identify this as an area of concern.