N.Y. Fed moves to seal documents in ex-bank examiner’s suit, says its interests trump public right to know. A federal judge in Manhattan is pondering whether to grant the request of the New York Federal Reserve to seal the case brought by former senior bank examiner Carmen Segarra. Segarra filed a lawsuit against the New York Fed and three of its employees alleging she had been wrongfully terminated last year after she determined that Goldman Sachs had insufficient conflict-of-interest policies. On Friday, the Fed asked for a protective order to seal documents in the case as well as parts of the complaint. In a letter to U.S. District Judge Ronnie Abrams, New York Fed counsel David Gross said the information should be removed from the public docket because it is “Confidential Supervisory Information,” including internal New York Fed emails and materials provided to the Fed by Goldman. Gross argues that the Fed’s obligation to keep bank supervisory records secret outweigh the public’s right to know.
Posted on: Tue, 15 Oct 2013 00:20:57 +0000