On night before hearing, Fed asks if it's too much the tool of investment banks


Fed Asks Whether It Is Too Close to Banks

By Gina Chon
Financial Times, London
Thursday, November 20, 2014

WASHINGTON -- The Federal Reserve Board is conducting a major review of how the regulator and its reserve banks supervise large financial institutions, amid mounting criticism that it is to close to and too lenient with the Wall Street groups it oversees.

News of the inquiry, announced today, came a day before two top officials, Fed Governor Dan Tarullo and New York Fed president William Dudley, are due to testify in separate Senate hearings into regulatory oversight practices.

"One subset of this system-wide inquiry will analyse regulatory capture," Mr Dudley said in written testimony that will be presented at Friday's hearing. ...

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