Congressional watchdog expands probe of lax Wall Street oversightNEW YORK (Reuters) - A U.S. congressional watchdog said on Tuesday it has formally added three agencies to its investigation into whether government regulators are too soft on the banks they are meant to police. In March, Reuters exclusively reported that the Government Accountability Office (GAO) was preparing a probe of the U.S. Federal Reserve and other to-be-determined regulators, in response to a request by Democratic U.S. Representatives Maxine Waters and Al Green for it to look into “regulatory capture.”  The review, requested last October, is the first by an outside agency into the perception that financial regulators are “captured” by and too deferential toward the bankers they supervise, so that Wall Street benefits at the public’s expense. Lawrance Evans, director of the GAO’s financial markets and community investment division, said in an email on Tuesday that the probe would include the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the National Credit Union Administration (NCUA). The GAO will also look back at work by the Office of Thrift Supervision, which merged with the OCC in 2011, and regulates savings and loan institutions.  Evans said the investigation is technically separate from the probe of the Fed, “but it is indeed part of the work we are doing in response to the Waters/Green request.”  The FDIC declined to comment. Representatives from the OCC and NCUA were not immediately available to comment.  Perceptions of regulatory capture have dogged the U.S. central bank and other regulators since they failed to head off the 2007-2009 financial crisis that sparked a global recession. politicsNews
congressional watchdog expands probe lax wall street oversighted york reuters a congressional watchdog said tuesday formally added three agencies investigation whether government regulators soft banks meant police in march reuters exclusively reported government accountability office gao preparing probe federal reserve regulators response request democratic representatives marine waters al green look regulatory the review requested last october first outside agency perception financial regulators captured referential toward bankers supervise wall street benefits public expense lawrence evans director gao financial markets community investment division said email tuesday probe would include federal deposit insurance corporation fdfc office comptroller currency occ national credit union administration ncaa the gao also look back work office shift supervision merged occ regulates savings loan institutions evans said investigation technically separate probe fed indeed part work response the fdfc declined comment representatives occ ncaa immediately available comment perceptions regulatory capture dogged central bank regulators since failed head financial crisis sparked global recession politicsnews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: Congressional watchdog expands probe of lax Wall Street oversightNEW YORK (Reuters) - A U.S. congressional watchdog said on Tuesday it has formally added three agencies to its investigation into whether government regulators are too soft on the banks they are meant to police. In March, Reuters exclusively reported that the Government Accountability Office (GAO) was preparing a probe of the U.S. Federal Reserve and other to-be-determined regulators, in response to a request by Democratic U.S. Representatives Maxine Waters and Al Green for it to look into “regulatory capture.”  The review, requested last October, is the first by an outside agency into the perception that financial regulators are “captured” by and too deferential toward the bankers they supervise, so that Wall Street benefits at the public’s expense. Lawrance Evans, director of the GAO’s financial markets and community investment division, said in an email on Tuesday that the probe would include the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the National Credit Union Administration (NCUA). The GAO will also look back at work by the Office of Thrift Supervision, which merged with the OCC in 2011, and regulates savings and loan institutions.  Evans said the investigation is technically separate from the probe of the Fed, “but it is indeed part of the work we are doing in response to the Waters/Green request.”  The FDIC declined to comment. Representatives from the OCC and NCUA were not immediately available to comment.  Perceptions of regulatory capture have dogged the U.S. central bank and other regulators since they failed to head off the 2007-2009 financial crisis that sparked a global recession. politicsNews
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: congressional watchdog expands probe lax wall street oversighted york reuters a congressional watchdog said tuesday formally added three agencies investigation whether government regulators soft banks meant police in march reuters exclusively reported government accountability office gao preparing probe federal reserve regulators response request democratic representatives marine waters al green look regulatory the review requested last october first outside agency perception financial regulators captured referential toward bankers supervise wall street benefits public expense lawrence evans director gao financial markets community investment division said email tuesday probe would include federal deposit insurance corporation fdfc office comptroller currency occ national credit union administration ncaa the gao also look back work office shift supervision merged occ regulates savings loan institutions evans said investigation technically separate probe fed indeed part work response the fdfc declined comment representatives occ ncaa immediately available comment perceptions regulatory capture dogged central bank regulators since failed head financial crisis sparked global recession politicsnews