Fed backs down in Supreme Court battle with Bloomberg

federal reserve

The Federal Reserve has backed out of a legal tussle with Bloomberg, a media company, over a ruling that will force the central bank to reveal the names of banks which it lent to at the height of the crisis.

The Supreme Court of the United States, the country's highest judicial body, confirmed that in papers filed on Tuesday to appeal an earlier decision, the Clearing House Association, which is a bank forum representing 20 US lenders, was the sole appellant.

The Clearing House Association becam

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