SIGTARP: Treasury "lost sight" of small-business program's goal

04/9/2013 | Hill, The

The Treasury Department has misused the Small Business Lending Fund by giving money to bailed-out banks, which then used it to pay off government obligations, according to a report from the Special Inspector General for the Troubled Asset Relief Program. Two dozen TARP banks utilizing the fund have not increased business lending; other TARP banks have raised lending by $1.13 for each dollar received from the fund, compared with $3.45 at non-TARP banks, the report says.

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Hill, The

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