The Senate confirmed Stephen Miran to the Federal Reserve Board of Governors in a 48-47 vote while he remained chair of Trump’s Council of Economic Advisers—marking the first time in the Fed’s 111-year history that a Board member simultaneously served as a presidential employee. Though …
Stephen MiranDonald TrumpFederal ReserveCouncil of Economic Advisersinstitutional-capturefederal-reserveconflicts-of-interestindependence-erosionregulatory-capture
The U.S. Department of Justice formally opened a criminal investigation into Federal Reserve Governor Lisa Cook on September 4, 2025, following a criminal referral from Federal Housing Finance Agency Director Bill Pulte. Federal prosecutors issued grand jury subpoenas in Georgia and Michigan to …
Department of JusticeLisa CookPam BondiBill PulteEd Martin+2 moredojfederal-reservecriminal-investigationpolitical-prosecutioninstitutional-capture+1 more
William Pulte, Trump’s FHFA Director, accesses private mortgage application data to accuse Fed Governor Lisa Cook of fraud for listing two properties as primary residences, part of pattern targeting Trump’s political opponents.
William Pultelisa-cookfederal-reservefhfadepartment-of-justicewilliam-pultelisa-cookfederal-reservefhfamortgage-fraud+5 more
Federal Reserve Governor Adriana D. Kugler submitted her resignation on August 1, 2025, effective August 8, stepping down months before her term was scheduled to end in January 2026. In her resignation letter addressed to President Trump, Kugler offered no explanation for her early departure, …
The Federal Reserve announced comprehensive trading restrictions for senior officials following a major financial ethics scandal. In response to controversial trades by regional Fed bank presidents Robert Kaplan and Eric Rosengren during the Covid-19 pandemic, the Fed imposed strict new rules …
Jerome PowellFederal Reserve BoardElizabeth WarrenRichard ClaridaRobert Kaplan+1 morefederal-reserveethics-policytrading-restrictionsjerome-powellregulatory-response+4 more
Robert Kaplan (Dallas Fed) and Eric Rosengren (Boston Fed) announce simultaneous resignations following massive public backlash over their 2020 trading activities. The scandal revealed deep ethical vulnerabilities in the Federal Reserve, where senior officials traded stocks during critical market …
Robert KaplanEric RosengrenFederal Reserve Bank of DallasFederal Reserve Bank of BostonElizabeth Warrenfederal-reserveresignationtrading-scandalrobert-kaplaneric-rosengren+4 more
In September 2021, Boston Federal Reserve President Eric Rosengren resigned amid a trading scandal revealing he actively traded Real Estate Investment Trusts (REITs) and mortgage-backed securities during 2020, while the Federal Reserve was simultaneously purchasing such assets. A 2024 watchdog …
Eric RosengrenFederal Reserve Bank of BostonRobert KaplanJerome Powellfederal-reservetrading-scandalconflict-of-interesteric-rosengrenboston-fed+3 more
Federal Reserve Bank of Dallas President Robert Kaplan resigned on September 27, 2021, after disclosure of extensive stock trading during the 2020 pandemic. Kaplan had made multiple trades worth over $1 million in companies like Amazon, Apple, and Delta Air Lines while serving as a voting member of …
Robert KaplanFederal Reserve Bank of DallasJerome PowellEric Rosengrenfederal-reservetrading-scandalconflict-of-interestrobert-kaplandallas-fed+2 more
Federal Reserve Vice Chairman Richard Clarida rotated between $1-5 million from Pimco bond funds into stock funds on February 27, 2020, just one day before Fed Chair Powell’s emergency statement about coronavirus risks. Clarida sold multiple ETFs during the market’s COVID-19 downturn and …
Richard ClaridaFederal Reserve BoardJerome PowellElizabeth Warrenfederal-reservetrading-scandalconflict-of-interestrichard-claridainsider-trading+2 more
The Federal Reserve Bank of Kansas City reversed its 2017 denial and approved Reserve Trust Company’s master account application in May 2018, approximately nine months after former Fed Governor Sarah Bloom Raskin allegedly contacted Kansas City Fed President Esther George. The approval raised …
Sarah Bloom RaskinReserve Trust CompanyFederal Reserve Bank of Kansas CityEsther GeorgePat Toomey+1 morefederal-reservecorruptionrevolving-doorsarah-bloom-raskinkansas-city-fed+3 more
The Federal Reserve Board imposes an unprecedented enforcement action against Wells Fargo, restricting the bank from growing beyond its total asset size as of December 31, 2017—approximately $1.95 trillion. The asset cap represents the most severe punishment the Fed has imposed on a major bank in …
Federal ReserveJanet YellenWells Fargo Boardbanking-regulationwells-fargofederal-reservecorporate-accountability
On June 15, 2017, the Federal Reserve Bank of Kansas City initially denied Reserve Trust Company’s application for a master account, one month after former Fed Governor Sarah Bloom Raskin joined the fintech’s board. Subsequent investigations revealed that Raskin allegedly made direct …
Sarah Bloom RaskinReserve Trust CompanyFederal Reserve Bank of Kansas CityEsther GeorgePat Toomey+1 morefederal-reservecorruptionrevolving-doorsarah-bloom-raskinkansas-city-fed+4 more
Russian operative Maria Butina and Alexander Torshin (member of Russia’s upper house of parliament and later sanctioned Russian official) traveled to Nashville, Tennessee to attend the National Rifle Association’s annual meeting from April 8-11, 2015. During this trip, Torshin met with …
Maria ButinaAlexander TorshinNational Rifle AssociationStanley FischerFederal Reserverussian-influencenraforeign-agentsconservative-infiltrationmaria-butina+2 more
The first comprehensive audit of the Federal Reserve revealed it secretly provided $16.1 trillion in emergency loans to major financial institutions during the 2008-2010 financial crisis, far exceeding the $700 billion TARP program. The audit exposed unprecedented scale of financial sector bailouts, …
Federal ReserveBen BernankeCitigroupMorgan StanleyGoldman Sachs+4 morefinancial-crisissecret-bailoutmonetary-capturefederal-reserveregulatory-capture+1 more
In September 1998, the Federal Reserve Board granted Citicorp a temporary waiver allowing its merger with Travelers Group, effectively circumventing the Glass-Steagall Act and Bank Holding Company Act. This strategic regulatory maneuver created Citigroup, the first ‘universal bank’ since …
Federal ReserveAlan GreenspanCiticorpTravelers GroupSandy Weill+4 morefederal-reservecitigroupglass-steagall-violationregulatory-waiversystemic-corruption+3 more
The Federal Reserve Board approved a pivotal regulatory decision allowing JP Morgan & Co., Citicorp, and Bankers Trust to establish Section 20 subsidiaries, marking a significant first breach in the Glass-Steagall Act’s separation of commercial and investment banking. The approval …
Federal Reserve BoardJP Morgan & Co.CiticorpBankers TrustPaul Volcker+1 moresection-20-subsidiariesglass-steagall-erosionfederal-reservesecurities-underwritingregulatory-approval+1 more
Large commercial banks launch a coordinated, multi-pronged campaign to systematically dismantle the Glass-Steagall Act’s financial regulations. This strategic effort involves regulatory capture through administrative reinterpretations, academic influence to discredit Depression-era banking …
Major commercial banksBanking lobbyistsFederal regulatorsAcademic economistsFederal Reserve Board+1 moreglass-steagallbanking-deregulationregulatory-capturefinancial-lobbyingnew-deal-reforms+2 more