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	<title>The Harvard Law School Forum on Corporate Governance</title>
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	<title>Clearing House Association Joins Board of Governors of the Fed. v. Bloomberg &#8211; The Harvard Law School Forum on Corporate Governance</title>
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		<title>Clearing House Association Joins Board of Governors of the Fed. v. Bloomberg</title>
		<link>https://corpgov.law.harvard.edu/2010/03/11/clearing-house-association-joins-board-of-governors-of-the-fed-v-bloomberg/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=clearing-house-association-joins-board-of-governors-of-the-fed-v-bloomberg</link>
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		<pubDate>Thu, 11 Mar 2010 14:45:45 +0000</pubDate>
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		<category><![CDATA[Federal Reserve v. Bloomberg]]></category>
		<category><![CDATA[The Clearing House Association]]></category>

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		<description><![CDATA[The Clearing House Association, a membership business league comprised of eleven of the largest financial institutions in the United States, is a party to the pending appeal in the United States Court of Appeals for the Second Circuit by the Board of Governors of the Federal Reserve System (the “Board”) in Board of Governors of [&#8230;]]]></description>
				<content:encoded><![CDATA[<hgroup><em>Posted by Paul Saltzman, The Clearing House Association, and Robert J. Giuffra, Jr., Sullivan & Cromwell LLP, on Thursday, March 11, 2010 </em><div class='e_n' style='background:#F8F8F8;padding:10px;margin-top:5px;margin-bottom:10px;text-indent:2.5em;'><strong style='margin-left:-2.5em;'>Editor's Note: </strong> <p style="margin:0; display:inline;">Paul Saltzman is Executive Vice President, General Counsel and Head of <a href="http://www.theclearinghouse.org/reference/payments/070022.php" target="_blank">The Clearing House Association</a>. <a href="http://www.sullcrom.com/giuffrajrrobertj/" target="_blank">Robert J. Giuffra, Jr.</a> is a Partner at Sullivan &amp; Cromwell LLP. Mr. Giuffra argued the Second Circuit appeal on behalf of The Clearing House Association. The opening and reply briefs of The Clearing House Association in the Second Circuit case are available <a href="http://blogs.law.harvard.edu/corpgov/files/2010/03/Clearing-House-Opening.pdf" target="_blank">here </a>and <a href="http://blogs.law.harvard.edu/corpgov/files/2010/03/Clearing-House-Reply.pdf" target="_blank">here</a>.</p>
</div></hgroup><p>The Clearing House Association, a membership business league comprised of eleven of the largest financial institutions in the United States, is a party to the pending appeal in the United States Court of Appeals for the Second Circuit by the Board of Governors of the Federal Reserve System (the “Board”) in <em>Board of Governors of the Federal Reserve System v. Bloomberg L.P., No. 09-4083 (2d Circuit, filed September 30, 2009) </em>, which concerns whether the Freedom of Information Act (“FOIA”) requires the Board to disclose bank-by-bank and loan-by-loan information about borrowing by financial institutions with Federal Reserve Banks (“FRBs”). The Clearing House Association supports the Board’s position that FOIA Exemption 4 protects such competitively sensitive financial information from public disclosure. The Second Circuit held oral argument on January 11, 2010. The Association’s opening and reply memoranda in support of its appeal are available here and here.</p>
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