Bailout

The U.S. Supreme Court on Monday declined to hear an appeal by a coalition of banks in their attempt to block the Federal Reserve from releasing to the news media information about emergency federal bailout funds they received.

The U.S. Court of Appeals in New York City (2nd Cir.) previously ordered disclosure of the information under the federal Freedom of Information Act to Bloomberg LP and Fox News Network LLC. As of Tuesday, Bloomberg said it has not yet received the requested documents.

A federal appellate court has declined the Federal Reserve's request to reconsider its decision ordering the release of records reflecting bank loans extended by the Fed during the unprecedented taxpayer-funded financial bailout.

On August 20, the full bench of the U.S. Court of Appeals in New York City (2nd Cir.) refused the Fed’s request to reconsider a unanimous three-judge panel’s March 19 ruling in Bloomberg LP's Freedom of Information Act suit for access to records relating to the its $2 trillion emergency lending program.

The U.S. Senate on Tuesday voted unanimously for a one-time audit of Federal Reserve records detailing its actions during the recent financial crisis, The New York Times reported.

The Federal Reserve Board has asked an appeals court to reconsider its decision against the Fed in a Freedom of Information Act case involving FOX and Bloomberg News over bailout-related records, Bloomberg Businessweek reported.

FOX Business has filed a second lawsuit against the Federal Reserve seeking documents about its emergency lending program that have been created since the first lawsuit began, FOX Business reported.

A federal appeals court ruled on Friday that the Federal Reserve Board must hand over records about its $2 trillion emergency lending program that were requested by Bloomberg LP in a Freedom of Information Act lawsuit.

A federal district court judge on Friday agreed that the list of private planes potentially used by auto industry executives who traveled to Washington to ask Congress for help should be released, ProPublica reported.

The first in a string of lawsuits over records that detail last year's unprecedented taxpayer-funded financial bailout began yesterday in a federal appeals court in New York.

The Reporters Committee for Freedom of the Press joined 12 other media organizations in filing a friend-of-the-court brief that supports reporters seeking access to public records that detail last year's unprecedented taxpayer-funded financial bailout.

The string of FOIA lawsuits for release of records of the government's emergency lending programs finally saw its first victory Monday. The Federal Reserve Board must release to Bloomberg News records identifying the financial firms it loaned bailout funds to as well as the assets or amounts put up as collateral, the news agency reported.