Warren Queries Fed’s Bowman on Morgan Stanley Exemption

Sen. Elizabeth Warren sends a letter to Vice Chair for Supervision for the Federal Reserve Michelle Bowman raising concerns about the decision “to provide a special exemption to Morgan Stanley that enables the bank to use American taxpayer deposits to subsidize risky financial activities in Europe,” according to a statement from the senator’s office.

• Warren also sends letter to Comptroller Jonathan Gould from the Office of the Comptroller of the Currency and Chairman of the Federal Deposit Insurance Corporation Travis Hill
• Warren says the exemption should be revoked “immediately,” per the statement
• Warren seeks answers to her letter by June ...