United States Federal Reserve Bank

Reflecting over McAuliffe’s conflicts of interests

For a man of such education and reputation, it is interesting to note that McAuliffe does have a lot of conflict of interest when it comes to his political and

business life. In fact, if one does look just close enough, it appears both go hand-in-hand and one couldn’t exist without the other.

One of McAuliffe’s initial forays into conflicts of interests comes from Federal City National Bank, a bank he helped to co-found in 1985. By 1988, the bank’s board elected McAuliffe as chairman, making him the youngest chairman in the United States Federal Reserve Bank’s charter association. The bank later merged with Credit International Bank, and he became Vice-Chairman there.

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