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“This report reveals the inherent conflicts of interest that exist at
the Federal Reserve,” said Sanders in a statement. “At a time when
small businesses could not get affordable loans to create jobs, the
Fed was providing trillions in [then] secret loans to some of the
largest banks and corporations in America that were well represented
on the boards of the Federal Reserve Banks. These conflicts must end.”

https://www.huffpost.com/entry/federal-reserve-directors-conflicts-bernie-sanders_n_1594291

How does the Federal Reserve insure there is no conflict of interest or minimize the conflict of interest within the organization? I am wondering this, because a lot of the board members seem to come from the private sector, so I am wondering how the organization insures that the board members don't just pocket money for themselves. Is there any mechanism or rule that seeks to combat this?