Potential Conflicts of Interest Abound Between FCIC Staff and Outside Entities Involved in Suing Banks Targeted by FCIC
Cause of Action sent a Freedom of Information Act Request to the National Archives seeking the release of records it maintains from the Financial Crisis Inquiry Commission, the body tasked with investigating the causes of the 2008 financial crisis. Prior to the release of the Commisssion’s report, U.S. House Committee on Oversight and Government Reform Chairman Darrell Issa (R-CA) raised questions concerning the potential conflicts of interest that existed between Commission staff and several outside entities involved in suing banks targeted by FCIC. Oversight Committee Ranking Member Elijah Cummings (D-MD) recently released a report finding that several of the decisions of the FCIC may have been politically motivated.
