Banks Seek To Sway Critical GAO Report

Wednesday, 19 March 2014 09:51 
By Alison Fitzgerald, The Center for Public Integrity | Report 

Lobbyists are working hard to get ahead of a critically important report by the government’s internal watchdog that may determine how banks are regulated in the future.

The Government Accountability Office was asked by Congress to determine whether the nation’s largest banks are able to borrow money at lower rates than smaller institutions because of the view that the government will bail out the behemoths or pay off their creditors in a crisis. The study, the second of two related reports, is due out later this year.