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Federal Reserve Exercises Broad Disciplinary Authority to Sanction Former Bank Employees Who Committed PPP Loan Fraud

On October 13, 2022, the Board of Governors of the Federal Reserve System (“Board”) announced multiple enforcement actions against former employees of several financial institutions because the former employees made false...more

Federal Reserve Bars Former Employee of Goldman Sachs Group

On April 1, 2022, the Board of Governors of the Federal Reserve System issued an Order of Prohibition against Joseph A. Jiampietro, a former managing director of Goldman Sachs’ Financial Institution Group (“GSFIG”),...more

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