WASHINGTON - Rep. Maxine Waters, D-Calif., is blasting federal regulators for approving Citigroup Inc.'s acquisition of the subprime lender Associates First Capital Corp.

In letters to the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. that were released on Monday, Rep. Waters wrote that the agencies acted irresponsibly in signing off on the deal two weeks ago despite accusations of abusive lending practices.

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