|
Rep Shields
Introduces Bill for more Oversight of TARP
Funding
Salem,
Ore. - With Americans becoming more
and more frustrated with the federal bank bailout programs,
Rep. Chip Shields (D-Portland) announced today the
introduction of a bipartisan bill that will provide oversight
of how state-chartered banks are spending money they've
been given through the Troubled Assets Relief Program
(TARP).
"The people and small businesses I
represent have had enough of the bailouts to the
financial industry," said Shields. "There is every
reason to try to fix our broken financial system. But we need
oversight and banks must be held accountable for how they
spend public dollars. "
House Bill 2784 would convene a
bipartisan group of Oregon State Senators and Representatives,
as well as members of the Oregon Department of Consumer
and Business Services and representatives of the financial industry to provide oversight and
evaluate the need for
regulation of operations of financial institutions licensed,
certified or chartered in this state that receive funds from
the TARP program.
###
|
