Dems Skeptical Of Fed's Stance On Banks, Commodities

Law360, Washington (January 15, 2014, 5:52 PM EST) -- Democrats unimpressed with a “meager” notice from the Federal Reserve System about limiting banks’ ability to engage in physical commodity activities pressed a top Fed banking regulator on Wednesday to ramp up oversight of major banks and share information with other regulators.

At a Senate Banking Committee hearing Wednesday, Fed banking oversight director Michael Gibson faced tough questioning from Sens. Sherrod Brown, D-Ohio, Elizabeth Warren, D-Mass., Jeff Merkley, D-Ore., and Jack Reed, D-R.I., who said they were concerned with the Fed’s “slow” response to their calls...
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