Daily Archives: April 19, 2015

Treasury’s no-bid deals for banks get flak on Capitol Hill

The Treasury Department’s practice of offering billions of dollars in no-bid contracts to banks for government services is drawing flak on Capitol Hill.

Several lawmakers are separately criticizing the Treasury for the dealsthat critics of the system say haveexposed poor and elderly Americans to fraud and potentially wasted tens of millions of taxpayer dollars.

The agency’s inspector general has launched multiple audits of the deals and is planning more for next year.

Read on.