U.S. House Financial Services Committee Chairman Jeb Hensarling subpoenaed the Federal Reserve seeking documents related to a 2012 information leak involving the central bank.
The subpoena is necessary because the Fed has failed to comply with a request for documents, Hensarling, a Republican from Texas, said in a statement Thursday.
Hensarling and Rep. Sean Duffy, R-Wis., chairman of the Subcommittee on Oversight and Investigations, are conducting their own inquiry into the leak after what they called an "inadequate" internal review at the Fed. The Justice Department is also investigating.
"We have provided the committee with information regarding a potential breach in 2012 of Federal Reserve policies protecting confidential information," Federal Reserve spokesman David Skidmore said in an email.
The probes stem from the publication of details of an internal Fed policy debate by Medley Global Advisors, one day before their official release. Medley provides market intelligence to hedge funds and other clients.
Business on 05/22/2015