Sigtarp pans US Treasury for Tarp oversight errors
Bailout watchdog criticises Treasury for poor handling of bank data
The US Treasury's handling of the Troubled Asset Relief Program (Tarp) has come under fire from the Special Inspector General for Tarp, who has criticised failures to supervise how banks are using Tarp funds, and widespread errors in handling Tarp data.
A Sigtarp audit found the Treasury had failed to pursue banks that had not reported back on their use of Tarp funds. Banks that do not report on their use of Capital Purchase Program funds – one of the two bailout programmes under Tarp – are
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