Full Disclosure

Fed Must Release Banks’ Loan Info

The Supreme Court ruled on Monday that it will not stop the Federal Reserve Board from releasing documents identifying the commercial banks and Wall Street financial firms that received Fed loans—and the collateral they put up—to survive the financial crisis. The high court refused to hear an appeal from an association of the nation’s bankers, The Clearing House Association, which was trying to keep the information private, claiming that if the Fed identified the banks that received emergency loans, it could cause a run on those banks and potentially hurt the economy. Fox News Network and Bloomberg have sued separately for the details of the loans to become public, and the Obama administration had also asked the Supreme Court not to hear the bankers’ appeal.