Yellen Says Once DoJ, OIG Investigation Complete It Will Comply With Congressional Subpoena

The U.S. Federal Reserve will not initially cooperate with a subpoena issued by a Congressional committee, a letter from Fed Chair Janet Yellen dated June 4 said. The letter, first reported by Dow Jones, cited an ongoing criminal probe into the matter as well as an investigation by the Fed’s inspector general as the reason the central bank would not comply. Yellen notes DoJ and OIG expressed concerns with complying with subpoena before they completed their investigation, committed to cooperating with Congress The Fed was not the only governmental organization concerned with releasing details of an ongoing federal criminal investigation….