The US Energy Department’s independent watchdog is recommending the agency’s $400 billion green bank stop work on loans after finding improper management of conflicts of interest.
The interim report by the department’s inspector general urged the agency’s loan program “put into abeyance” all pending loans and loan-guarantee packages after concluding the Loan Programs Office wasn’t conducting proper oversight of third-party contractors or conflict-of-interest information from contractors.
“The Department of Energy Loan Programs Office is administering more than $385 billion in new loan authority without ensuring a regulatory and contractually compliant and effective system to manage organizational conflicts of interest,” Inspector ...
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