Judge Abrams yesterday dismissed the complaint of a former Federal Reserve bank examiner who claimed she was fired after identifying a lack of internal controls at Goldman Sachs.  The plaintiff had alleged that she told her supervisors at the Fed that Goldman had “no firmwide conflict of interest policy,” in violation of SR 08-08, a Federal Reserve guideline that served as the basis for the plaintiff’s examination of Goldman.  When she refused to alter her conclusion, the plaintiff alleged, she was fired in retaliation. The Court dismissed the claims under the Federal Deposit Insurance Act’s whistleblower statute (Section 1831j).  First, Judge Abrams held that the statute did not apply to individuals, dismissing the claims against the plaintiffs’ former supervisors.  Moving next to the claims against the New York Fed, Judge Abrams held that neither of the plaintiff’s theories stated a claim under the whistleblower statute:
Continue Reading Judge Abrams Dismisses Whistleblower Suit Against New York Fed