This story appeared in Bank Digest.
Oversight and Government Reform Committee Ranking Member Elijah E. Cummings, D-Md., has sent a letter to Committee Chairman Darrell Issa, R-Calif., requesting an examination of allegations that hundreds of millions of dollars in taxpayer funds may have been squandered in the nation's largest low-income housing construction program, according to the first of a series of reports by the Washington Post. “At a time when so many Americans are struggling to stay in their homes, it would be deeply upsetting if these allegations proved true,” said Cummings. “Our Committee should help ensure that contractors actually do the work they receive taxpayer funds for, and that local and federal agencies properly oversee funds they distribute. We should also correct any deficiencies in the law that prevent agencies from adequately monitoring projects and recouping taxpayer funds if necessary.”