Richmond Fed President Jeffrey Lacker resigns abruptly after admitting to leaking information
REUTERS/Chris Keane
"The Federal Reserve places a high priority on safeguarding information," the Richmond Fed said in a statement. "We expect every employee to comply with all relevant policies and procedures, as well as our standards of conduct. Employees must review and acknowledge our policies annually. Once our Bank's Board of Directors learned of the outcome of the government investigations, they took appropriate actions."
The regional bank added: "We are focused on moving forward within our organization-and were already underway with our presidential search, following Jeffrey Lacker's announcement in January to retire in 2017. This search process will continue as scheduled. In the interim, First Vice President Mark Mullinix is serving as the Bank's acting president."
The leak to Medley took place in 2012.
This story is developing...
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