A new government watchdog report says community banks used money intended for small business loans to pay back their federal bailout debts instead.
The conclusions were released by the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) in a report titled, “Banks that Used the Small Business Lending Fund to Exit TARP (PDF).” Â The report says community banks did not properly use the money they received through the Small Business Lending Fund (SBLF).
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