In the News
The Hill: House members push to save millions by closing unused government bank accountsHouse members push to save millions by closing unused government bank accounts
Washington, DC,
May 9, 2013
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Pete Kasperowicz
A bipartisan group of House members has proposed legislation that would force the government to close thousands of unused bank accounts it holds that are costing taxpayers hundreds of thousands of dollars in fees.
A bipartisan group of House members has proposed legislation that would force the government to close thousands of unused bank accounts it holds that are costing taxpayers hundreds of thousands of dollars in fees. Recent press reports say more than 13,000 unused accounts still exist, which will cost nearly $1 million this year in service fees. "Both parties can agree that there is no excuse for the government to squander millions of dollars maintaining empty federal bank accounts that serve no purpose," bill sponsor Ann McLane Kuster (D-N.H.) said. "No family or business would knowingly tolerate that type of waste and neither should the federal government. That's just common sense." |