"Senate seeks to only allow investors with a 5% stake nominate board directors - MarketWatch"

Senate seeks to only allow investors with a 5% stake nominate board directors - MarketWatch

WASHINGTON (MarketWatch) -- Democratic lawmakers in negotiations to
resolve differences in sweeping financial-reform legislation agreed
Wednesday to allow ongoing audits of the Federal Reserve's books, with
Senate lawmakers signing on to a broader investigation authority from a
House bank bill.

As part of the deal, lawmakers agreed to a one-time Government
Accountability Office audit of the Fed's emergency-lending programs. It
also includes a House panel provision that permits ongoing audits of the
Fed's discount window, a government-lending facility from which banks
borrow reserves.

The House-Senate language also requires the Fed to make public the
names of banks that borrow from the Fed's discount window and from its
emergency-lending programs, but with a two-year...click on link above for entire article