Diversity is critical to the Federal Reserve, and we are firmly committed to fostering a diverse and inclusive culture throughout the Federal Reserve System. Collections within FRASER contain historical language, content, and descriptions that reflect the time period within which they were created and the views of their creators. Certain collections contain objectionable content—for example, discriminatory or biased language used to refer to racial, ethnic, and cultural groups. These viewpoints and attitudes are inconsistent with our values, but the original descriptions are retained to ensure that they are not erased from the historical record.
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Crowley, Leo and Scrugham, James G. (James Graves), 1880-1945. Letter to Senator J.G. Scrugham, Box 20, Folder 7, Item 22, Marriner S. Eccles Papers. https://fraser.stlouisfed.org/archival/1343/item/459877, accessed on April 20, 2024.
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Copy of letter Crowley wrote to Scrugham regarding federal supervisory agencies' concerns about overexpansion of credit and the "tremendous risk concentration" presented by Bank of America and its expansion; Scrugham forwarded letter to W.W. Hopper.
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