The US Government Accountability Office ( GAO ) has been requested by Democratic lawmakers to prepare an investigation as to whether the Federal Reserve and other regulators are too soft on the banks they are supposed to police , perhaps the latest sign of distrust between the central bank and Congress . Such perceptions that the Federal Reserve is too deferential toward the bankers has plagued the central bank following its failure to head off the 2007 - 2009 financial crisis . It is unclear whether the majority Republicans on the House committee backed the request from the minority Democrats .
The US Government Accountability Office (GAO) has been requested by Democratic lawmakers to prepare an investigation as to whether the Federal Reserve and other regulators are too soft on the banks they are meant to police, marking the latest sign of distrust between the central bank and Congress. Such perceptions that the Federal Reserve is too deferential toward the bankers has dogged the central bank following its failure to head off the 2007-2009 financial crisis. It is unclear whether the majority Republicans on the House committee backed the request from the minority Democrats.