US Government Watchdogs Strained By Rising Bank Failures: "WASHINGTON -(Dow Jones)- The rising number of failed U.S. banks is putting a strain on government watchdogs, forcing them to drop investigations into issues such as money laundering and preventing effective oversight over the trillions of dollars in new government programs put in place in recent months.
Inspectors general from the Treasury Department, Federal Reserve and Federal Deposit Insurance Corp. will tell a U.S. House subcommittee on Tuesday that laws requiring mandatory reviews of bank failures of a certain size are eating away at scarce resources for auditors."
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