The House banking scandal broke in early 1992, when it was revealed that the United States House of Representatives allowed members to overdraw their House checking accounts without risk of being penalized by the House bank (actually a clearinghouse).
This is also sometimes known as Rubbergate (from the expressions "rubber check" (bounced check) and "Watergate)". The term is misleading because House checks did not bounce; they were honored because the House Bank provided overdraft protection to its account holders, the Office of the Sergeant at Arms covered the House Bank with no penalties. It was also sometimes known as the "congressional check-kiting scandal".
Read more about House Banking Scandal: The Scandal, Public Exposure
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