Appointment of Vice Chair of Federal Reserve Board to Serve Concurrently as Chair of the District of Columbia Financial Responsibility and Management Assistance Authority: Memorandum for the Counsel to the President [June 1, 1998] [open pdf - 46KB]
"You have asked for our views on whether the President may appoint Alice Rivlin to be Chair of the District of Columbia Financial Responsibility and Management Assistance Authority (the 'Authority'), while Dr. Rivlin continues to serve in her current capacity as Vice Chair and a member of the Board of Governors of the Federal Reserve System (the 'Federal Reserve Board'). Upon review of the federal conflict of interest statutes, the prohibition on compensation for dual offices, and the requirements of the Federal Reserve Act, we conclude that the relevant statutory authorities do not prohibit the proposed appointment, but that Dr. Rivlin must continue to perform her duties as Vice Chair of the Federal Reserve Board on a full-time basis. She would thus have to work with the Federal Reserve Board and its General Counsel to ensure compliance with the Federal Reserve Act."
United States. Department of Justice: http://www.justice.gov/