Meanwhile, the Wall Street Journal reports the committee overseeing federal banking bailout programs is investigating the lending practices of institutions that received public funds, following a rash of complaints about increases in interest rates and fees. Last week, Bank of America told some customers that interest rates on their credit cards will nearly double to about 14 percent. The bank is also imposing fees of least $10 on a wide range of credit card transactions. Citigroup is pushing new loans that carry annual interest rates of 30 percent, while Wells Fargo is offering its own form of a payday loan that carry annual interest rates of about 120 percent. Last year, US banks and savings institutions collected nearly $40 billion in deposit account charges and fees for everything from ATM usage to balance transfers. The fees accounted for about 25 percent of the industry’s total revenue.