Banks making (more) predatory loans with taxpayers money

Citibank, U.S. Bank, Bank of America, Wells Fargo, and Pacific Capital Bancorp have been called out by the Congressional Oversight Panel for using taxpayer money to turn around and rip off taxpayers.

Essentially, taxpayers end up paying twice: once to the government, once to the banks.

Bailed-Out Banks Face Probe Over Fee Hikes | WSJ (via Consumerist)

(photo: kevindooley)