__________ directors of the Federal Reserve are appointed by the Board of Governors of the Federal Reserve System and may not be stockholders, directors, or employees of existing banks.
A) Class A
B) Class B
C) Class C
D) Class D

Question

Quizplus · Accepted Answer

Class C directors of the Federal Reserve are appointed by the Board of Governors of the Federal Reserve System and may not be stockholders, directors, or employees of existing banks. Class A directors are appointed by member banks and represent the banking industry, while Class B directors are appointed by the Board of Governors to represent the public interest. Class D directors are appointed by the Board of Governors to represent the public interest but must also have experience in banking or finance.

__________ Directors of the Federal Reserve Are Appointed by the Board