Taxpayers charged twice by the banks

The Wall Street Journal reported that U.S. banks that had received money under the Troubled Asset Relief Program (TARP) were facing a probe over increases in rates and fees.

It has also been disclosed that the Congressional Oversight Panel was currently working on a report on examining instances of potentially inappropriate lending by banks that got the bailout.

Elizabeth Warren, chairwoman of the Congressional Oversight Panel, stated it was the same as charging the taxpayers twice, as "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."

The TARP program was launched by the U.S. Treasury Department's with the aim of distributing a total of $700 among lenders, who needed investment, and thus, improving the economy.