Supreme Court Says Banks Can't Hide Fed Lending Data

New information related to the Federal Reserve's emergency loans to banks that took place during the financial crisis in 2008 will soon come to light, following a decision on Monday from the U.S. Supreme Court. The Supreme Court decided to uphold a ruling by the federal court of appeals that ordered the Fed to disclose details about the central bank's emergency lending during the crisis, thereby rejecting an appeal filed by the Clearing House Association, which represents major commercial banks, intended to prevent the information from becoming public. Banks that are members of the Clearing House include Bank of America Corp. BAC, JPMorgan Chase & Co. JPM, Citigroup Inc C, UBS AG UBS, Wells Fargo WFC, and Bank of New York Mellon Corp BK. Continue reading the article.