Court denies the Fed's request regarding loan-recipient disclosure

08/23/2010 | Bloomberg

The U.S. Court of Appeals for the 2nd Circuit denied a request from the Federal Reserve to reconsider a ruling that requires the central bank to identify banks that received loans after the collapse of Bear Stearns. The Fed has seven days to disclose the information, unless the court stays its ruling. The Fed has argued that disclosure of the information would stigmatize the borrowers, causing them "severe and irreparable competitive injury."

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