Panel may probe banks that received TARP funds

04/13/2009 | Wall Street Journal, The

Banks that received money under the Troubled Asset Relief Program are facing scrutiny for their business practices since getting the rescue funds. Banks are being accused of raising fees and continuing to make predatory loans, prompting calls for an investigation by the Congressional Oversight Panel, the committee overseeing TARP. "The people who are subsidizing the activities of the banks through their tax dollars are the same people who are furnishing the high profits through consumer lending," said committee Chairwoman Elizabeth Warren. "In a sense, we're asking taxpayers to pay twice."

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