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Sanders Requests GAO Study of S&L and Sub S Costs

Senator-elect Bernie Sanders (I-Vt.), then-ranking member of the Financial Institutions and Consumer Credit Subcommittee, has requested a Government Accountability Office study of several issues concerning the cost of banks to the American taxpayers.

By Sarah Snell Cooke | Updated on December 19, 2006

WASHINGTON — Senator-elect Bernie Sanders (I-Vt.), then-ranking member of the Financial Institutions and Consumer Credit Subcommittee, has requested a Government Accountability Office study of several issues concerning the cost of banks to the American taxpayers.

Sanders noted, “Since the Savings and Loan crisis of the 1980s and the enactment of the Financial Institutions Reform, Recovery and Enforcement Act of 1989 (FIRREA) the federal government has provided billions of dollars in aid and benefits to the banking and benefits to the banking and thrift industries, at a time when they continue to see quarter after quarter of record profits and consumers see more and higher bank fees.”

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