US watchdog spots conflict of interest with Fed director roles

Central Banking Newsdesk
21 Oct 2011

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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

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