FBN Wins FOIA Suit Against the Fed

Fox Business Network has won a freedom of information act case against the Federal Reserve.

The decision was handed up earlier today by the New York Second Circuit Court of Appeals. FBN filed suit in January, 2009 seeking the identification of the financial institutions receiving funds from Fed programs. Today’s decision orders the Fed to disclose documents identifying which institutions borrowed money and the details surrounding each loan.

Says FBN EVP Kevin Magee, “We are pleased that this information is finally, and rightfully, going to be made available to the American public.”