FBN Wins Lawsuit Against U.S. Treasury - Broadcasting & Cable

FBN Wins Lawsuit Against U.S. Treasury

Treasury will have until March 23 to comply with the FOIA request
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Fox Business Network has won its lawsuit against the United States Treasury Department.

As a result of the victory, the U.S. Treasury will have until March 23 to comply with a Freedom of Information Act request filed by FBN parent network Fox News last year. The Treasury will also have until April 6 to provide a Vaughn Index, which identifies withheld documents and the statutes justifying their exclusion.

FBN filed the lawsuit in December, following the Treasury’s failure to respond to the FOIA request last November.

The FOIA request sought information regarding how bailout funds given to AIG and Bank of New York Mellon were used, as well as which troubled assets were purchased, what collateral was extended and what if any restrictions were placed on the funds use.

FBN also has a bailout-related FOIA case against the Federal Reserve Board.

“We’re satisfied that this information is finally, and rightfully, going to be made available to the American public,” said Fox News executive VP Kevin Magee in a statement. “Fox Business Network, as a news organization, believes it’s important to hold the government accountable, especially for use of the bailout funds during this time of steep economic crisis.”

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