Court Won't Stop Fed From Revealing Loan Data
WASHINGTON - The Supreme Court won't stop the release of Federal Reserve Board documents identifying financial companies that received Fed loans to survive the financial crisis.
The 2nd U.S. Circuit Court of Appeals in New York City had said that such information isn't automatically exempt from requests under the Freedom of Information Act.
News Corp.'s Fox News Network LLC and Bloomberg L.P. sued separately for details about loans that commercial banks and Wall Street firms received and the collateral they put up. But the Federal Reserve Board argued that if it identified banks that drew emergency loans, it could cause a run on those institutions, undermine the loan programs and potentially hurt the economy.
Latest Stories
- Roseland Ceasefire Encouraged by Decrease in Gun Violence Despite Federal Cuts
- ALDERMAN STEPHANIE COLEMAN TO BE JOINED BY MAYOR BRANDON JOHNSON, U.S. CONGRESSMAN JONATHAN JACKSON, AND VARIOUS ELECTED LEADERS IN KICKING OFF THE FIFTH ANNUAL ENGLEWOOD MUSIC FESTIVAL
- RainbowPUSH Coalition and The Church of Jesus Christ of Latter-day Saints to Distribute 2,000 Bags of Food to Families in Need on Saturday
- Rainbow PUSH Coalition Urges Americans to Unite in Prayer, Solidarity, and Denouncement of Violence on the 24th Anniversary of the 9/11 Terrorist Attacks
- MATTESON MAYOR TO BECOME THE FIRST AFRICAN AMERICAN WOMAN TO HEAD THE ILLINOIS MUNICIPAL LEAGUE
Latest Podcast
Quandra-Urban Market Exchange
