WASHINGTON, Sept. 13 (UPI) -- Corporations that benefited from the U.S. government bailout must detail policies to limit "luxury" expenses starting Monday, officials said.
The corporations, which received government loans under the $700 billion Troubled Asset Relief Program, must disclose on their Web sites policies on expenses including entertainment or other events, office and facility renovations, aviation or other transportation services, the Detroit News reported Sunday.
The Treasury Department imposed the requirement in June after Congress said companies that get TARP funds must adopt and disclose policies for four categories of "excessive or luxury expenditures."
The requirements came after widespread criticism targeting high-profile examples of spending deemed excessive.
Auto executives, for instance, flew in private jets last year to congressional hearings where they sought emergency loans. Other companies had been roundly criticized after ordering new planes or spending millions on overhauls of offices and tickets to entertainment events.
The Treasury Department's special master, Kenneth Feinberg, will announce his assessment of the companies' policies by the end of October, the News said.
Feinberg is also scrutinizing the wages of the the most highly compensated TARP recipient executives.
