TARP Watchdog Blasts Feds For Favoring Big Banks

Law360, New York (October 27, 2011, 2:09 PM EDT) -- A federal watchdog on Thursday chastised U.S. financial regulators for providing the nation's biggest banks with a swift exit from the government's Troubled Asset Relief Program, while at the same time doing little to help community banks regain their footing.

In a 311-page quarterly report to Congress, the Office of the Special Inspector General for the Troubled Asset Relief Program, known as SIGTARP, questioned why the government relaxed credit requirements for still-weak banks, including Bank of America NA, Citigroup Inc. and Wells Fargo & Co., without...
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