http://en.wikipedia.org/wiki/Federal_Reserve_System
The charter and organization of each Federal Reserve Bank is established by law and cannot be altered by the member banks. Member banks, do however, elect six of the nine members of the Federal Reserve Banks' boards of directors.From the profits of the Regional Bank of which it is a member, a member bank receives a dividend equal to 6% of their purchased stock.
The charter and organization of each Federal Reserve Bank is established by law and cannot be altered by the member banks. Member banks, do however, elect six of the nine members of the Federal Reserve Banks' boards of directors.From the profits of the Regional Bank of which it is a member, a member bank receives a dividend equal to 6% of their purchased stock.
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