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Loan Modification

: Mortgage Lender Implode-o-Meter

Justice Dept.: High Court Shouldn't Consider Fed Disclosure Case

By Implode-Explode Heavy Industries

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``The Justice Department, in a legal brief filed Friday, took a position that could lead to the release of Federal Reserve emergency-lending data that major banks are trying to keep secret. The Supreme Court shouldn't take up a banking association's appeal to block the release of the data, the department said in a legal brief filed at the high court. However, the department also said a lower court made multiple errors when it ordered the Fed to identify commercial banks that received emergency loans from the central bank's "discount window" at the peak of the 2008 financial crisis.''

Full post as published by Mortgage Lender Implode-o-Meter on February 22, 2011 (boomark / email).

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