Greater Accountability from Richmond Federal Reserve Bank
The streets of Richmond’s financial district echoed with calls for accountability last week as activists gathered outside the Federal Reserve Bank of Richmond to call for better transparency and representation following a series of scandals among the nation’s banking leadership.
Among the speeches and chants from those present at the Oct. 19 rally, which included members of SPACEs in Action and Action NC, was a demand that the Richmond Federal Reserve establish a better process to select its board of direc- tors and presidents that ensures greater public involvement and a more diverse leadership.
“It is of urgent importance that the public members of the board actually represent the public,” said Apryl Lewis of Action NC. “We are here to demand representation for our community.”
SPACEs in Action and Action NC are part of the Center for Popular Democracy’s national Fed Up Campaign, which has been working to ensure the Federal Reserve’s actions are in the economic interests of all in the country, from full employment for working families to increasing wages.