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House Bill Pushes For More TARP Restrictions

Law360 (January 22, 2009, 12:00 AM EST) -- In a largely symbolic move, the U.S. House of Representatives has passed legislation aimed at tightening the restrictions on companies that participate in the government's $700 billion bailout program.

The Senate is unlikely to take up the measure, having already voted to release the second half of the bailout funds — $350 billion — without additional limitations, making the House's action more of a protest against the way the Troubled Assets Relief Program has so far been managed.

The TARP Reform and Accountability Act, passed by...
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