Former Cranford Deputy Mayor Continues To Receive $190,000 Checks From JP Morgan

Former Deputy Mayor Ann Darby no longer works for JPMorgan Chase, but the wife of New York Federal Reserve Bank President William Dudley continues to receive deferred-income checks in the amount of $190,000 a year for the work she did at JPMC, the The Huffington Post reports.

The NY Federal Reserve Bank is one of the bodies meant to act as a watchdog for banks such as JPMC.

According to financial disclosure records for Dudley, the payments to Darby are expected to "wind down and cease in 2021." Lawyers are "in discussions with Mr. Dudley, representatives from the Board of Governors and JPMC" about the money," according to the The Huffington Post article. As president of the New York Federal Reserve bank, it is part of Dudley's job to help regulate financial institutions such as JPMC.

Darby, a Republican, served on the Cranford Township Committee from 2003 to 2005. In 2004, she served as the deputy mayor. She has remained active in various organizations in the area, including the United Way.

Last year, former Mayor Daniel Aschenbach appointed Darby to the bipartisan , a committee formed as the township continues to fight the proposed development of a flood-prone section of Birchwood Avenue. The committee was charged with recommending a proactive approach to ensure Cranford moves forward with other affordable housing opportunities that meet community needs.