Fed asks full appeals court to review bailout records case

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.

A three-judge panel of the U.S. Court of Appeals in New York (2nd Cir.) ruled unanimously in favor of the media companies in March. If the court denies the request for reconsideration before the full appeals court panel, the Fed may petition the U.S. Supreme Court for review.

FOX and Bloomberg News sued the Federal Reserve over its failure to produce the names of bailout recipients, amounts received and the terms of the loans. In April, FOX expanded its request to include the period of time since the initial request was made.