Federal Reserve Board reaches agreements in principle with Goldman Sachs and Morgan Stanley to provide $557 million in payments and other mortgage assistance to borrowers
By FRB -

WASHINGTON, D.C. – January 16, 2012 – (RealEstateRama) — Goldman Sachs and Morgan Stanley have reached agreements in principle with the Federal Reserve Board to pay $557 million in cash payments and other assistance to help mortgage borrowers.


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http://www.federalreserve.gov/

The seven members of the Board of Governors of the Federal Reserve System (FRB) are nominated by the President of the United States and confirmed by the U.S. Senate. By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country," and no two Governors may come from the same Federal Reserve District.

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Board of Governors of the Federal Reserve System
20th Street and Constitution Avenue NW
Washington, DC 20551

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