✉news BusinessBanking first seen 15 h ago, last 5 h ago, peak #4
Fed watchdog finds renovation failures but no criminal referral
Original: Fed watchdog finds renovation failures, but no grounds for criminal referral
A Federal Reserve internal watchdog has concluded that renovation work overseen by the US central bank suffered serious failures, but determined there are no grounds for a criminal referral. The finding closes off the possibility of prosecution over the project while still documenting management and oversight shortcomings. The report is drawing attention because it touches on scrutiny of the Fed's spending and governance at a sensitive time for the institution.
Why now: It concerns the Federal Reserve's governance and spending at a moment of heightened public scrutiny of the institution.
Federal ReserveFederal Reserve Office of Inspector General
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