Gloria L. Jarmon, Deputy Inspector General for the Office of Audit Services, Office of Inspector General, U.S. Department of Health and Human Services testifies before the House Committee on Energy and Commerce Subcommittee on Oversight and Investigations: "Examining the Costly Failures of ObamaCare's CO-OP Insurance Loans"

At 2:30 and 2:40, the original video had a glitch, causing the video to skip. Here is the transcript for that section, in full.
"With respect to entities that oversee CO-OPs, CMS should enhance its oversight, by working closely with State insurance regulators who are the primary regulatory entities that oversee CO-OPs as health insurance issuers.  By doing this CMS can obtain timely insights as to the CO-OPs’ performance and can work with CO-OPs to address and fix ongoing financial and operational problems earlier.  

Finally, if CMS no longer believes that the CO-OP is viable and sustainable, CMS should then pursue all available remedies for recovery of funds from CO-OPs."

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