 Image from a quicklink (Image by Unknown Owner) Details DMCA | Regional Federal Reserve banks' heavy reliance on directors linked to the financial industry can suggest conflicts of interest and the process of excluding officials from certain decisions should be clearer, a congressional study released on Wednesday found... Many institutions linked to the directors of regional Fed banks took advantage of the central bank's emergency lending programs, underscoring the potential for conflicts, GAO said. Congress mandated the report in the Dodd-Frank overhaul of financial rules and supervision enacted after the financial crisis of 2007-2009. Although the boards of Fed banks are supposed to have directors representing a range of groups, including labor and consumers, their directors can all have ties to the financial industry... |
Read the rest of the story HERE:
At www.huffingtonpost.com
At www.huffingtonpost.com
