Sanders To Revive Bill Banning Bank Execs From Fed Boards

Law360, New York (January 9, 2013, 5:36 PM EST) -- Sen. Bernie Sanders, I-Vt., said Wednesday he would reintroduce a bill banning financial executives from sitting on the boards of directors for the 12 regional Federal Reserve Banks.

The Fed's regional banks, particularly the New York Fed, are charged with overseeing financial institutions, and allowing financial executives to sit on those boards creates a conflict of interest, Sanders said.

“Allowing Wall Street CEOs to serve as Federal Reserve directors and hand-pick its members and staff is a clear example of the fox guarding the henhouse,” Sanders...
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