Bipartisan Bill Seeks to Crack Down on Big Banks’ Presence of Federal Reserve Board

Bipartisan Bill Seeks to Crack Down on Big Banks’ Presence of Federal Reserve Board
The Federal Reserve building in Washington on March 19, 2019. Leah Millis/Reuters
Tom Ozimek
Updated:
0:00

Two senators have proposed a bipartisan bill to curb big banks’ presence on the boards of regional Federal Reserve banks in a bid to eliminate conflicts of interest and bolster central bank accountability.

“I’ve got an idea–a bipartisan idea–that I’m introducing with Senator Rick Scott today: get the big bankers off the Reserve Banks boards of directors,” Sen. Elizabeth Warren (D-Mass.) said during a Wednesday hearing of the Senate Banking, Housing, and Urban Affairs Committee.

Tom Ozimek
Tom Ozimek
Reporter
Tom Ozimek is a senior reporter for The Epoch Times. He has a broad background in journalism, deposit insurance, marketing and communications, and adult education.
twitter
Related Topics