US watchdog spots conflict of interest with Fed director roles

US Government Accountability Office identifies three examples where senior bank executives might have benefited from their positions on regional Federal Reserve boards

ny-federal-reserve

An audit of the Federal Reserve published on Wednesday has revealed numerous cases during the crisis where there were conflicts of interest between the roles of directors on regional Fed boards and their positions in private sector firms.

The report, published by the US Government Accountability Office (GAO), details several instances when decisions taken by top executives of corporations and financial institutions sitting on regional Federal Reserve boards could have financially benefited their

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here