We wrote about how the banks were reluctant to provide details of the spending of bailout money they received. Now, the government is taking some action and asking banks to provide the data. The Treasury wrote on January 16 to 20 banks getting funding under the Troubled Asset Relief Program asking for more information about business and consumer loans. The government also asked for data on mortgage-backed securities and asset-backed securities purchases. Citigroup, Bank of America, Chase and other banks received the letters. These banks said they planned to comply with government reporting requirements.

Well, that’s the good thing. At least now, these guys are prepared to provide the details of how they spend our tax money.

Related Link: Where is my money?