Federal Reserve Internal Investigations: Uncovering Misconduct and Wrongdoing

🔍The Federal Reserve conducts internal investigations to uncover misconduct and wrongdoing by its employees.

📈On average, the Federal Reserve conducts around 60 to 70 internal investigations of potential misconduct or wrongdoing.

🔐The Federal Reserve does not have the authority to fire employees found to have committed wrongdoing. The decision to terminate employment is made by the individual Federal Reserve banks.

💰The salary of the Inspector General at the Federal Reserve is based on the average salary and bonus of other division directors.

👥The process of bank failures and the subsequent acquisition or resolution is outside the scope of the Inspector General's investigations.

How many internal investigations has the Federal Reserve conducted?

—On average, the Federal Reserve conducts around 60 to 70 internal investigations of potential misconduct or wrongdoing.

Are employees found to have committed wrongdoing fired?

—The decision to terminate employment of employees found to have committed wrongdoing is made by the individual Federal Reserve banks.

How is the salary of the Inspector General determined?

—The salary of the Inspector General at the Federal Reserve is based on the average salary and bonus of other division directors.

Does the Inspector General investigate bank failures?

—The process of bank failures and the subsequent acquisition or resolution is outside the scope of the Inspector General's investigations.

What is the role of the Inspector General at the Federal Reserve?

—The Inspector General conducts internal investigations to uncover misconduct and wrongdoing by Federal Reserve employees.

00:00Introduction: Senator Kennedy questions the Inspector General about internal investigations at the Federal Reserve.

00:22The Inspector General has been in his role since 2011 and conducts internal investigations at the Federal Reserve.

00:47On average, the Federal Reserve conducts around 60 to 70 internal investigations of potential misconduct or wrongdoing.

01:18The decision to terminate employment of employees found to have committed wrongdoing is made by the individual Federal Reserve banks.

03:30The salary of the Inspector General at the Federal Reserve is based on the average salary and bonus of other division directors.

09:30The process of bank failures and the subsequent acquisition or resolution is outside the scope of the Inspector General's investigations.

09:59Senator Kennedy expresses concerns about the guarantee of losses by taxpayers in bank failures.

10:29The Inspector General agrees to further discussions on the topic with Senator Kennedy and his team.