January 8, 2009

A top bank industry group said on Wednesday it is concerned that the U.S. Treasury Department has overspent available rescue money, leaving the capital injection program for the nation's banks underfunded.

The American Bankers Association said it is also worried that the Treasury has not set up a structure to let all eligible banks participate in the $250 billion capital program, leaving almost one-third of the banking industry out in the cold.