Senators Seek to Remove Bankers From 12 Regional Fed Boards
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U.S. Senators Bernie Sanders, Barbara Boxer and Mark Begich introduced legislation today that would remove banking industry executives from the 12 regional Fed banks’ boards of directors.
“Allowing currently employed banking industry executives to serve as directors on the boards of directors of Federal Reserve banks is a clear conflict of interest that must be eliminated,” according to the text of the bill, released today by Sanders, a Vermont Independent who caucuses with Democrats.