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Wasteful Spending Charged to Bank Regulators
GAO faulted three banking regulators the Federal Reserve Board the office of the comptroller of the currency and the FDIC for lavish wasteful spending Proxmire said the agencies spend millions yearly on office space travel and furniture far above similar groups Officials noted the agencies operate outside the regular budget process and avoid congressional approval Proxmire urged consolidation of the three agencies citing their combined 137 million annual expenditures
MENTIONED IN THIS ARTICLE
Washington
General Accounting Office
William Proxmire
D-Wis
Proxmire
Senate Banking Committee
Federal Reserve Board
Comptroller of the Currency
Federal Deposit Insurance Corp
GAO
Comptroller’s Office
SEC
FDIC