When Congress approved the $700 billion bailout of the banking system, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson promised to provide transparency throughout the rescue process. But two months later, there is still little disclosure and frustration is mounting.

So Bloomberg News decided to take matters into its own hands: The news agency used the Freedom of Information Act to request details about the Fed’s lending. When the Fed balked at the request, Bloomberg filed a federal lawsuit seeking to force disclosure. Congressional leaders are urging the Fed to comply with the request:

“During the bipartisan negotiations between Congress and the administration, members of both parties made clear that Congress must have meaningful oversight over the use of taxpayer dollars,” [House Republican leader John] Boehner said. “Transparency is even more important now, given that the program appears to have been implemented in some ways that were given little to no discussion as Congress was being urged to pass the rescue plan.”

Senator John Cornyn of Texas, a member of the Republican leadership, said the lack of disclosure “should trouble taxpayers and policymakers alike.”

“There cannot be accountability in government and in our financial institutions without transparency,” he said. “Many of the financial problems we are facing today are the direct result of too much secrecy and too little accountability.”