The Fed Appears to Have Violated the Dodd-Frank Act in the Second Quarter of 2020, Giving $455 Billion in Loans to Citigroup

The Fed would appear to have violated both the spirit and the letter of the Dodd-Frank financial reform legislation in the second quarter of 2020, according to new repo loan data released by the New York Fed for the second quarter of 2020. The data shows that Citigroup received 96 percent...