Fifteen months before he resigned under a cloud, Jeffrey Lacker, then president of the Federal Reserve Bank of Richmond, found himself in an odd position.
Jeffrey Lacker admits his involvement in a 2012 leak that sparked a criminal probe by the Fed; Wells has fired dozens in its credit card processing unit for inflating merchants' sales figures.
In his final public remarks before stepping down from the agency, Fed Gov. Daniel Tarullo called for several changes to the system, including dropping a key element of the stress tests and rethinking the Volcker Rule.
Richmond Fed President Jeffrey Lacker resigned Tuesday after revealing that he inadvertently disclosed confidential information about monetary policy to an analyst in 2012.
Sen. Pat Toomey, R-Pa., asked the Government Accountability Office to weigh in on whether two pieces of bank regulatory guidance are in fact rules for the purposes of the Congressional Review Act.
The Justice Department believes that Pyongyang was behind last year's New York Fed heist; Marcus Schenck, DB's CFO and deputy CEO, may be next in line to head the big German bank.
During a panel discussion Tuesday, regulators said they are trying not to crack down too hard on sales incentive programs and fix problems that bankers have identified with the exam system.
