Greater transparency from all financial regulators could result from a congressional probe involving the payday lending industry's fight with the FDIC, credit union industry attorneys said.
The House Committee on Oversight and Government Reform has issued a report on Operation Choke Point, a Justice Department effort that involved banking regulators trying to cut off access to bank accounts and loans for businesses deemed to be high risk, including payday lenders.
That was supposed to force them out of business, critics said, and that industry's largest trade group has sued.
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